Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (9) TMI 61 - DELHI HIGH COURTAddition - Search and seizure - cash and jewellery - the Assessee gave his explanation about the source of the jewellery - In addition, he relied upon the Board's Instruction No.288/63/92-IT (Inv.) dated 11th June, 1994 regarding the possession of jewellery and submitted that on the basis of the Board's instructions the jewellery of such a low value is not to be seized - Decided in favour of assessee. Unexplained investment in house property - there is no much of the difference between the valuation shown by the Assessee of these properties and valuation arrived at by the DVO. It is less than 10%. The CIT(A) and ITAT, in these circumstances, stated that when difference is between 10% to 15% no addition should be made as per the various judgments on this issue. No question of law arises. Dismissed.
|