https://www.taxtmi.com/caselaws?id=205902 The High Court upheld the decisions of the Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal regarding the deletion of unexplained investments in jewellery and house property at Pitampura and a godown at Bakoli. The court found that the Assessee provided satisfactory explanations supported by Board instructions, leading to the deletion of the additions made by the Assessing Officer. The valuation variances were within acceptable limits, falling below the threshold for additional taxation, as established by previous judgments. The High Court dismissed challenges to these decisions, affirming the deletions of the unexplained investments. en-us Tue, 20 Sep 2011 00:00:00 +0530 Wed, 28 Sep 2011 22:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205902 The High Court upheld the decisions of the Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal regarding the deletion of unexplained investments in jewellery and house property at Pitampura and a godown at Bakoli. The court found that the Assessee provided satisfactory explanations supported by Board instructions, leading to the deletion of the additions made by the Assessing Officer. The valuation variances were within acceptable limits, falling below the threshold for additional taxation, as established by previous judgments. The High Court dismissed challenges to these decisions, affirming the deletions of the unexplained investments. Case-Laws Income Tax Tue, 20 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205902