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2018 (6) TMI 223 - AT - Income TaxUnexplained jewellery - Held that:- Jewellery stands released at the time of the search itself on the basis of the invoice shown by the assessee at the time of the search itself. No doubt has been raised about the invoice. The invoice produced before the AO has not been doubted. This very invoice was before the authorized officer at the time of the search. The jewellery was also physically present before him on the date of search. Thus, the assumption made by the CIT(A) that the Authorized Officer would have been released the jewellery only after comparing the jewellery as per the invoice and as physically available is a correct assumption. There is no doubt about items not matching with the invoice. However, DR was fair enough to admit that there is no other difference in the item and the same are matching.
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