https://www.taxtmi.com/caselaws?id=191493 The addition for unexplained jewellery was held not fully sustainable because the assessee's explanation of marriage-linked acquisition was rejected for lack of corroboration, and the statement could not be relied on selectively. Once that explanation was discarded, the whole statement was ignored. The CBDT jewellery instruction was treated as a reasonable guide in assessment proceedings as well as search cases, reflecting customary possession of jewellery in ordinary Hindu families. Credit therefore had to be allowed for jewellery attributable to the assessee, her husband and daughters, and only the balance could be treated as unexplained and added. en-us Fri, 08 Jul 2011 00:00:00 +0530 Wed, 05 Apr 2017 17:50:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191493 The addition for unexplained jewellery was held not fully sustainable because the assessee's explanation of marriage-linked acquisition was rejected for lack of corroboration, and the statement could not be relied on selectively. Once that explanation was discarded, the whole statement was ignored. The CBDT jewellery instruction was treated as a reasonable guide in assessment proceedings as well as search cases, reflecting customary possession of jewellery in ordinary Hindu families. Credit therefore had to be allowed for jewellery attributable to the assessee, her husband and daughters, and only the balance could be treated as unexplained and added. Case-Laws Income Tax Fri, 08 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191493