https://www.taxtmi.com/caselaws?id=191489 The Tribunal dismissed the Revenue's appeal, upholding the Ld. CIT(A)'s order treating the jewelry found during the search as explained, in line with the CBDT Circular 1916. The addition of Rs. 13,36,977 made by the AO on account of unexplained jewelry was deleted, as the Assessee's explanation, supported by the circular and a decision of the Gujarat High Court, was deemed sufficient to establish ownership and legitimacy of the jewelry. en-us Fri, 17 May 2013 00:00:00 +0530 Wed, 05 Apr 2017 17:32:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191489 The Tribunal dismissed the Revenue's appeal, upholding the Ld. CIT(A)'s order treating the jewelry found during the search as explained, in line with the CBDT Circular 1916. The addition of Rs. 13,36,977 made by the AO on account of unexplained jewelry was deleted, as the Assessee's explanation, supported by the circular and a decision of the Gujarat High Court, was deemed sufficient to establish ownership and legitimacy of the jewelry. Case-Laws Income Tax Fri, 17 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191489