https://www.taxtmi.com/caselaws?id=68190 The Tribunal held that statements recorded under Section 132(4) of the IT Act were invalid as they were not voluntary. The affidavits and statements submitted by the assessee were deemed credible evidence, supporting the claim that the jewellery belonged to family members. The Tribunal accepted that the possession of jewellery was reasonable and explained, in line with family customs. Consequently, the appeal by the assessee was allowed, and the Revenue's appeal was dismissed. en-us Thu, 02 Apr 1998 00:00:00 +0530 Thu, 17 Mar 2011 15:05:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68190 The Tribunal held that statements recorded under Section 132(4) of the IT Act were invalid as they were not voluntary. The affidavits and statements submitted by the assessee were deemed credible evidence, supporting the claim that the jewellery belonged to family members. The Tribunal accepted that the possession of jewellery was reasonable and explained, in line with family customs. Consequently, the appeal by the assessee was allowed, and the Revenue's appeal was dismissed. Case-Laws Income Tax Thu, 02 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68190