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2020 (8) TMI 816 - AT - Income TaxUnexplained jewellery u/s 69A r.w.s. 115BBE - search proceedings - certain jewellery was found from the premises of the assessee and out of which part of the jewellery was seized by the Income-tax Department. - HELD THAT:- To support the availability of the jewellery, the assessee has filed a copy of the valuation report prepared during the course of the search in calendar year 2007, which is a document of the Department having evidential value akin to a copy wealth tax return or VDIS declaration. Not agreeing with DR that slight mismatch in the name of the jewellery articles, should not be allowed just because the jewellery weight found during search of 2007 is not supported by wealth tax returns. In the case of the assessee, the wealth of the assessee was less than the threshold amount of wealth liable to wealth tax and therefore the assessee did not file the wealth tax return. So if the wealth tax return is not filed by the assessee, then in our opinion the inventory of the jewellery found and seized during the course of the search in calendar year 2007 and valuation report of the same prepared by the Departmental Valuer, is one of the document prepared under statutory rules and regulations and cannot be brushed aside. Total weight of the jewellery found and seized during the course of the search in calendar year 2007 is more than the jewellery found during the current search, and therefore respectfully following the decision of the Tribunal in the case of Rajkumar B Agarwal [2019 (1) TMI 687 - ITAT PUNE] no addition of unexplained jewellery under section 69A of the Act is warranted in the case of the assessee just due to minor mismatch in the items of the jewellery found in the current search and the jewellery found during the search on 18/02/2007.- Decided in favour of assessee. Deduction for maintenance charges paid in respect of flat let out - HELD THAT:- Since the assessee has already added back the maintenance expenses under the head “profit and gains of the business and profession” and this amount has not been claimed under that income from house property, the contention of the Assessing Officer that the assessee has claimed flat maintenance expenses in the profit and loss account is factually incorrect and thus no addition can be made on this ground. Finding of CIT(A) of confirming the disallowance is against the factual record and therefore it is set aside. Addition upheld by the learned CIT(A) is accordingly deleted. - Decided in favour of assessee.
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