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2018 (4) TMI 125 - AT - Income TaxUnexplained jewelry found in search - Held that:- CIT (A) has taken note of the societal pattern in India and also that the jewellery was claimed to be belonging to other family members of the assessee who are also Income Tax Assessees. Therefore, he has rightly held that the entire jewellery found during the course of search cannot be considered as explainable by the assessee alone and also that the assessee had resources over the past years to explain the sources for investment in jewellery as not explained; and to be belonging to the family members. We find that the CIT (A) has appreciated the factual aspect of the issue at length and the learned DR has not been able to rebut these findings. No reason to interfere with the order of the CIT (A). - Decided against revenue
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