Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (11) TMI 1215 - AT - Income TaxAddition u/s 69A - jewellery found in the locker - seizure of jewellery in course of operations u/s 132 - appellant submits that the aforesaid jewellery was gifted to her on various occasions such as marriage, birth of children, etc.; such gifts are very common in Indian culture and society - whether the allowance of jewellery should be strictly restricted to 500 gms only as per the CBDT Circular or not? - HELD THAT:- The Hon’ble Delhi High Court in the case of Ashok Chaddha [2011 (7) TMI 142 - DELHI HIGH COURT] held that collecting jewellery of 906.900 gms by a woman in a married life of 25 years in form of stree dhan or on other occasions is not abnormal. As decided in ITAT Delhi in the case of Vibhu Aggarwal [2018 (5) TMI 586 - ITAT DELHI]held that where Assessing Officer under section 69A made addition on account of jewellery found in search of assessee, since assessee belonged to a wealthy family and jewellery was received on occasions from relatives, excess jewellery was very much reasonable and, thus, no addition under section 69A was called for. Thus in view the facts and circumstances of the instant case and also the jewellery found, the total income declared and in view of the various judgments cited above, we direct that the addition made on this account be deleted. Decided in favour of assessee.
|