https://www.taxtmi.com/caselaws?id=177010 The Tribunal upheld the decisions of the lower authorities regarding the valuation of both gold jewellery and silver articles for the assessment year 2006-2007. The appeal challenging the deduction of 10% for stones, lac, and wax in the valuation of gold jewellery was dismissed due to the lack of evidence to substantiate the claimed deductions. Similarly, the appeal disputing the valuation of unaccounted stock of silver articles, with the assessee claiming a purity of 70%, was rejected as there was insufficient proof to support the purity adjustments. Consequently, the Tribunal dismissed the appeal of the assessee. en-us Fri, 12 Aug 2011 00:00:00 +0530 Fri, 01 Jan 2016 14:33:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177010 The Tribunal upheld the decisions of the lower authorities regarding the valuation of both gold jewellery and silver articles for the assessment year 2006-2007. The appeal challenging the deduction of 10% for stones, lac, and wax in the valuation of gold jewellery was dismissed due to the lack of evidence to substantiate the claimed deductions. Similarly, the appeal disputing the valuation of unaccounted stock of silver articles, with the assessee claiming a purity of 70%, was rejected as there was insufficient proof to support the purity adjustments. Consequently, the Tribunal dismissed the appeal of the assessee. Case-Laws Income Tax Fri, 12 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177010