2018 (2) TMI 506

Head Note / Extract:
Assessment u/s 153A - Additions on account of alleged investment in jewellery - Held that:- As considered very facts from that case and variation in the gold jewellery in his case was to the extent of 269.10 grams. Similarly, variation in silver articles was of 13.43 kg. This was excess jewellry found at the time of search than the one disclosed in the wealth-tax returns filed by the assessees viz. Ganapat L. Chowdhary. Similarly, in the case of Smt.Parvati S. Chowdhary variation was of only 41.96 grams of gold jewellery. It suggests that details with regard to possession of jewellery were already disclosed to the department.

No incriminating material was found which can justify action under section 153A of the Act. The AO has nothing to expose the assessee on account of jewellery which was already disclosed to the department, and with regard to that no incriminating material was found. This aspect has been considered by us in the order of Shripal Sampatraj Chowdhary extracted (2018 (2) TMI 423 - ITAT AHMEDABAD)(2018 (2) TMI 427 - ITAT AHMEDABAD). Following order of the Co-ordinate Bench, we allow all these appeals, and direct the AO to delete impugned additions. - Decided in favour of assessee.