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2016 (8) TMI 95 - ITAT BANGALOREAddition under section 68 - whether the items sold were the same which were disclosed under VDIS? - Held that:- We find that the same quantity of gold, silver and diamonds which were declared under VDIS was sold. Though the assessee has declared the gold, silver and diamond jewellery in different form under VDIS, but in sale bill the assessee has sold gold & silver bullion and diamonds separately. The assessee has filed evidence with respect to conversion of gold and silver jewellery into gold bullion & silver bullion and diamonds. Since the same quantity which was disclosed under VDIS was sold, we find no justification in making the addition on introduction of sale proceeds in the books of account - Decided in favour of assessee.
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