TMI Blog1993 (3) TMI 130X X X X Extracts X X X X X X X X Extracts X X X X ..... ined. 4. In the course of search gold ornaments and silver articles were also found. We shall first deal with the gold ornaments. The weight of gold ornaments seized under s. 132 of the Act was 262.37 tolas. In the course of proceedings under s. 132(5) of the Act the assessee gave the names of the members of the family to whom gold ornaments belonged. The Assessing officer accepted the explanations of the assessee in respect of 133 tolas out of 262.37 tolas and did not accept the explanation of the assessee in respect of 128.8 tolas. The figure is mentioned as 129.5 tolas in the assessment order. He added the value of said gold ornaments which he had treated as unexplained. The addition came to Rs. 2,26,366. The following table givens necessary details: . . Seized under s. 132 Ownership accepted by IAC(A) Ownership in dispute in appeal before CIT(A) . (Tolas) (Tolas) (Tolas) Smt. Manjulaben Mathuradas 63.85 30.00 33.85 Smt. Urmilaben Vijaykumar 52.79 35.00 17.79 Smt. Hiralaxmi Jayantkumar 57.92 30.00 27.92 Shri Vijaykumar Mathuradas 3.50 3.00 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ben was daughter of Shri Makanji Champshi of Mandvi who had business of snuff and tobacco at Mandvi and had also rice mill in West Bengal and had also agricultural lands. Even at the time of search said family had 28 acres of agricultural lands. 10. The assessee's case was that Smt. Manjulaben had received gold ornaments of about 90 tolas from her parents at the time of her marriage and had also received 100 tolas of jewellery and gold ornaments from her mother-in-law Smt. Parvatiben on that occasion and that out of 190 tolas of jewellery and gold ornaments received by her, she had parted with 123 tolas of jewellery and gold ornaments at the time of marriage of her children and at the time of other auspicious occasions in the family over the years and that she had been left with about 66 tolas out of which 63 tolas were seized and she was allowed to wear about three tolas at the time of search. It is explained that the maternal uncle of the assessee had set apart some funds, interest of which used to be handed over to Smt. Parvatiben in the form of gold ornaments. The assessee's father had died before the date on which the assessee's marriage took place and it was the elder brot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arriage his wife Smt. Manjulaben had 190 tolas of gold ornaments was wholly acceptable. The value of gold ornaments of this quantity was not very high at that time and there was nothing improbable in the version given by the assessee. The Assessing Officer had held one day campt at Bhuj on 19th Dec., 1985 and had examined five persons, viz., Vijaykumar, Jayantkumar, Smt. Urmilaben, Smt. Hiralaxmi and Karunashanker. The copies of statements have been filed in the paper book. Smt. Manjulaben could not remain present because she was mourning death of her husband (assessee) which had taken place few weeks before. Whatever evidence was required by the Assessing Officer has been produced by the assessee. There was no attempt on the part of the assessee or assessee's legal representative to evade the inquiry. We do not accept the submission of the learned Departmental Representative that the assessee had failed to produce all the persons whose affidavits had been filed. The learned Departmental Representative has not shown from the record that the Assessing Officer had required the presence of a particular person and the assessee had failed to produce the said particular person. 12. It ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... estimate. As already stated, he had himself proceeded to adopt the criterion of reasonable probability. If that criterion is applied the entire explanation regarding gold ornaments should have been accepted. We have carefully considered the entire reasons given by the Assessing Officer and we find that the Assessing Officer has not been able to justify the disallowance of 50% of the gold ornaments on broad basis. The learned CIT(A) has examined the entire evidence in great detail and we agree with the reasons recorded by him. It is to be noted that in the valuation report of the approved valuer appointed by the Department it is specifically mentioned that the ornaments were old ornaments. We uphold the order of the CIT(A) and confirm his finding to the effect that the assessee had satisfactorily explained the gold ornaments that had been found at the time of search in his premises and as such no addition by resorting to provisions of s. 69A was justified. We accordingly confirm the deletion of addition made by the Assessing Officer. 13. As regards silver articles we find that 45.513 kgs. of silver articles were found at the time of search. The assessee had pleaded that the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X
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