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2023 (10) TMI 653 - AT - Income TaxAddition u/s 69A r.w.s. 115BBE - unexplained gold jewellery of 1627.5 Grams - Stree dhan of women - HELD THAT:- We hold that CBDT's instruction no. 1916 dated 11.05.1994 and press release dated 01.12.2016 pertains to seizure of jewellery. It postulates that by going through the archetypal Indian family standard, a persons of an Income Tax payee of considerable amount could have had the prescribed amount of jewellery in the circular. As brought into force after a series of due deliberation and its impact on taxation. It is never envisaged that the Assessing Authority should restrict the amount of eligible jewellery to the quantity mentioned in the circular. The assesses were trustee of a medical college and also have the returned income in the range of Rs. 21.27 lacs to 49.34 lacs as per the returns. We hold that CBDT's instruction no. 1916 dated 11.05.1994 and press release dated 01.12.2016 pertains to seizure of jewellery. It postulates that by going through the archetypal Indian family standard, a persons of an Income Tax payee of considerable amount could have had the prescribed amount of jewellery in the circular. It was brought into force after a series of due deliberation and its impact on taxation. It is never envisaged that the Assessing Authority should restrict the amount of eligible jewellery to the quantity mentioned in the circular. The assesses were trustee of a medical college and also have the returned income in the range of Rs. 21.27 lacs to 49.34 lacs as per the returns. As decided in the case of Ashok Chaddha [2011 (7) TMI 142 - DELHI HIGH COURT] 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 the case of Vibhu Aggarwal [2018 (5) TMI 586 - ITAT DELHI] where AO u/s 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 we direct that the addition made on this account be deleted. Appeal of assessee allowed.
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