https://www.taxtmi.com/caselaws?id=282370 The Tribunal overturned the CIT(A) order for the assessment year 1998-99, ruling in favor of the appellant. The Tribunal found that the appellant had indeed sold the same quantity of gold, silver, and diamond declared under the Voluntary Disclosure of Income Scheme, 1997 (VDIS). Despite discrepancies in the form of declaration and sale bill, evidence supported the conversion of jewelry into bullion. The Tribunal held that since the declared quantity was sold, there was no basis for adding sale proceeds to the books of account. The appeal by the assessee was allowed, emphasizing the importance of consistency and proper documentation in transactions. en-us Thu, 30 Jun 2016 00:00:00 +0530 Mon, 05 Aug 2019 20:16:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282370 The Tribunal overturned the CIT(A) order for the assessment year 1998-99, ruling in favor of the appellant. The Tribunal found that the appellant had indeed sold the same quantity of gold, silver, and diamond declared under the Voluntary Disclosure of Income Scheme, 1997 (VDIS). Despite discrepancies in the form of declaration and sale bill, evidence supported the conversion of jewelry into bullion. The Tribunal held that since the declared quantity was sold, there was no basis for adding sale proceeds to the books of account. The appeal by the assessee was allowed, emphasizing the importance of consistency and proper documentation in transactions. Case-Laws Income Tax Thu, 30 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282370