9911796707
TMI Blog2025 (2) TMI 920X X X X Extracts X X X X X X X X Extracts X X X X ..... nds of appeal:- "1. On the facts and in the circumstances of the case and in law, the ld. Commissioner of Income Tax (Appeals] [hereinafter referred to as the ld. CIT (Appeals) for the sake of brevity] has grossly erred in confirming the addition of Rs. 6,16,620/- u/s. 69A of the Act, being unexplained jewellery without considering the merits of the case and prays your honour to kindly delete the same. 2. On the facts and in the circumstances of the case and in law, the ld. CIT (A) has grossly erred in not considering the facts that the locker operated during search operations was in the joint name of the appellant, her daughter, Ms. Kanan Dalai & (husband of Ms. Kanan Dalai), Settled in United Kingdom. The ld. CIT (Appeals] has failed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessing officer & even the ld. CIT (Appeals) have interpreted the subject matter in arbitrary manner and therefore, the appellant prays your honour to treat the jewellery as explained and delete the impugned additions. 6. The appellant craves liberty to add, alter or amend any of the aforesaid ground or grounds, if necessary." 3. The brief facts of the case are that during the course of search action at the residential premises of the assessee, a locker key for locker No. 543 at Karnataka Bank Ltd. was seized and impounded. The said locker was in the joint name of Smt. Geeta Dalal (wife of the assessee) and Ms. Kanan Dalal (daughter of the assessee). Out of the gold jewellery found and inventorised from the aforesaid locker, in the state ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e AO, in the assessment order, referenced a letter dated 29.11.2019 submitted by the late Shri Subhash Dalai, the appellant. In this letter, the appellant requested that any addition on account of the gold jewellery found and seized from Locker No. 543 be made in his case. In light of this request, the AO proceeded to make the addition of the unexplained gold jewelry in the hands of the appellant. Further, it is an undisputed fact that no documentary evidence, such as purchase bills or invoices, was furnished either during the assessment proceedings or in the appellate proceedings. As a result, the source of acquisition of the seized jewellery valued at Rs. 6,16,620/- remains unexplained due to the absence of supporting documentary evidence ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nnot lead to the inference that the jewellery lying in the locker belonged to the assessee alone, especially keeping in light the fact that the daughter was residing in UK and it was not practically possible for her to operate the locker. Accordingly, in light of the above facts, it was submitted that there is no basis for sustaining the addition and accordingly, looking into the instant facts the additions are liable to be deleted. 7. In response, Ld. D.R. placed reliance on the observations made by the Assessing Officer and Ld. CIT(A) in their respective orders. 8. We have heard the rival contentions and perused the material on record. 9. On going through the facts of the instant case, we observe that it is an undisputed fact that the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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