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TMI Blog2022 (7) TMI 1526X X X X Extracts X X X X X X X X Extracts X X X X ..... ent : Sri MN Murthy Naik, CIT-DR ORDER PER S. BALAKRISHNAN, Accountant Member : This appeal filed by the assessee against the order of the Ld. CIT(A)-12, Hyderabad [Ld. CIT(A)] in appeal No.10590/2019-20, dated 24/01/2022 arising out of the order passed U/s. 143(3) of the Income Tax Act, 1961 ["the Act"] for the AY 2018-19. 2. Brief facts of the case are that the assessee is an individual deri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edings, the AO assessed the income of the assessee including an amount of Rs. 7,94,372/- being the value of gold jewellery weighing 284.600 grams which is found in excess after considering the eligible exemption as per the CBDT Instruction No. 1916, dated 11/05/1994. The AO assessed the excess gold jewellery under 69A of the Act. Aggrieved by the order of the Ld. AO, the assessee preferred an appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and father of the appellant. 4. On the facts and circumstances of the case the Ld. CIT(A) ought to have noticed that the Assessing Officer is not justified in making the addition without considering the Assessee's explanation submitted during the course of assessment proceedings. 5. On the facts and circumstances of the case the Ld. CIT(A) ought to have noticed that the assessing officer is no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he gold jewellery belong to the family members of the assessee as detailed in para 4 of the assessment order. Therefore, he pleaded that the Ld. AO has erred in giving effect to the CBDT instruction to the gold jewellery belonging to the mother of assessee while allowing the gold jewellery belonging to mother-in-law of the assessee. The Ld. AR further submitted that the mother of the assessee is s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ied lady and 100 grams per male member of the family should not be seized. As per the list mentioned in para 4 of the assessment order it is noted that the AO has erred in disallowing the excess gold of 284.600 grams belonging to the mother of the assessee who is staying with the assessee being the only daughter, and considered as belonging to the family members of the assessee. In these peculiar ..... X X X X Extracts X X X X X X X X Extracts X X X X
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