https://www.taxtmi.com/caselaws?id=262637 The Tribunal upheld the disallowance of interest on a housing loan due to lack of evidence linking the loan to construction costs. It reduced the unexplained silver articles to 13.23 kgs considering social customs. For unexplained gold and diamond jewelry, it allowed certain claims based on customary practices, reducing additions made by the Assessing Officer. The Tribunal upheld the claim for jewelry purchases without invoices, noting entries in books and payments through bank accounts. The judgments emphasized evidence, social customs, and family status in determining unexplained investments. en-us Fri, 07 Aug 2015 00:00:00 +0530 Mon, 17 Aug 2015 06:49:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262637 The Tribunal upheld the disallowance of interest on a housing loan due to lack of evidence linking the loan to construction costs. It reduced the unexplained silver articles to 13.23 kgs considering social customs. For unexplained gold and diamond jewelry, it allowed certain claims based on customary practices, reducing additions made by the Assessing Officer. The Tribunal upheld the claim for jewelry purchases without invoices, noting entries in books and payments through bank accounts. The judgments emphasized evidence, social customs, and family status in determining unexplained investments. Case-Laws Income Tax Fri, 07 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262637