TMI Blog2014 (5) TMI 775X X X X Extracts X X X X X X X X Extracts X X X X ..... the jewellery stated in the circular stands explained - the approach adopted in considering the extent of jewellery specified under the circular to be a reasonable quantity, cannot be faulted with - it is not possible to state that the Tribunal has committed any legal error so as to give rise to a question of law - the AO is directed to allow the rebate of 950 gms. of jewellery as against the 700 gms. of jewellery directed by the CIT(A) – Decided in favour of Assessee. - ITA No. 6397/Del/2012 - - - Dated:- 16-5-2014 - Shri G. D. Agrawal And Shri I. C. Sudhir,JJ. For the Appellant : Shri Ashwani Taneja, Adv and Sh. Rohan Khare, Adv. For the Respondent : Mrs. Sudha Kumari, CIT(DR) ORDER Per G. D. Agrawal : Vice Pre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fore the Ld. CIT(A), it was submitted by the assessee that the family of the assessee is consisting of herself, her husband, two minor children i.e. one son and one daughter. The assessee has claimed for relief in view of the CBDT s Instruction No. 1916 dated 11.5.1994. The Ld. CIT(A) after considering the said Instructions directed the Assessing Officer to allow the rebate of 700 gms of jewellery in respect of assessee s family. It is submitted by the Ld. Counsel of assessee that as per the Board s Instruction the rebate should be 950 gms. as under:- - 500 gms. for assessee - 100 gms. for assessee s husband - 250 gms. for as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Instructions. The Revenue aggrieved with the decision of the ITAT, has filed the appeal before the Hon ble Gujarat High Court which held The Tribunal found that the jewellery held by the assessee and his family members was well within the limit laid down the CBDT circular and accordingly, deleted the whole addition on the ground that the jewellery held by each of the family members was below the limits specified in the said circular. Though it is true that the CBDT Instruction No. 1916, dt. 11th may, 1996 lays down guidelines for seizure of jewellery and ornaments. In the course of search, the same takes into account the quantity of jewellery which would generally be held by family members of an assessee belonging to an ordinary Hindu h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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