https://www.taxtmi.com/caselaws?id=387814 The High Court ruled in favor of the appellants, a Hindu Undivided Family, in a tax dispute regarding the sale of declared jewellery items. The court found that the authorities erred in disbelieving the appellants' claim that the sold items matched those declared under the Voluntary Disclosure of Income Scheme. Documentary evidence, including sale bills and bank transactions, supported the conversion of jewellery into bullion and subsequent sale. The court criticized the tribunal for presuming discrepancies in quantities sold, ultimately setting aside the Income Tax Appellate Tribunal's decision and allowing the appeals filed by the appellants. en-us Wed, 09 Oct 2019 00:00:00 +0530 Thu, 19 Dec 2019 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387814 The High Court ruled in favor of the appellants, a Hindu Undivided Family, in a tax dispute regarding the sale of declared jewellery items. The court found that the authorities erred in disbelieving the appellants' claim that the sold items matched those declared under the Voluntary Disclosure of Income Scheme. Documentary evidence, including sale bills and bank transactions, supported the conversion of jewellery into bullion and subsequent sale. The court criticized the tribunal for presuming discrepancies in quantities sold, ultimately setting aside the Income Tax Appellate Tribunal's decision and allowing the appeals filed by the appellants. Case-Laws Income Tax Wed, 09 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387814