https://www.taxtmi.com/caselaws?id=68398 The Tribunal dismissed the revenue's appeal and partly allowed the assessee's cross-objection. It upheld the deletion of Rs. 4,25,437 for unexplained gold ornaments, justified by prior assessments and CBDT instructions. The Tribunal found the AO's issuance of notice under section 148 valid post-stay. It upheld the Rs. 1 lakh estimate for dalali receipts due to lack of evidence. The addition of Rs. 27,000 for IVPs and KVPs was deleted, as the source was proven. The Rs. 16,200 addition for household expenses was upheld, with telescoping benefits applied. Each decision was supported by evidence and legal precedents. en-us Wed, 30 Nov 2005 00:00:00 +0530 Wed, 03 Apr 2024 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68398 The Tribunal dismissed the revenue's appeal and partly allowed the assessee's cross-objection. It upheld the deletion of Rs. 4,25,437 for unexplained gold ornaments, justified by prior assessments and CBDT instructions. The Tribunal found the AO's issuance of notice under section 148 valid post-stay. It upheld the Rs. 1 lakh estimate for dalali receipts due to lack of evidence. The addition of Rs. 27,000 for IVPs and KVPs was deleted, as the source was proven. The Rs. 16,200 addition for household expenses was upheld, with telescoping benefits applied. Each decision was supported by evidence and legal precedents. Case-Laws Income Tax Wed, 30 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68398