https://www.taxtmi.com/caselaws?id=400112 Jewellery disclosed in the return could not be added as unexplained when the assessee later showed, through affidavits and supporting material, that it belonged to family members and fell within CBDT-prescribed limits. The Tribunal held that a claim is not barred merely because no revised return was filed, and appellate authorities may entertain it where the relevant facts are already on record. It further applied the principle that there is no estoppel against law, so tax can be levied only in accordance with law and not because of an erroneous or precautionary disclosure. The addition was deleted. en-us Wed, 21 Oct 2020 00:00:00 +0530 Wed, 28 Oct 2020 09:58:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400112 Jewellery disclosed in the return could not be added as unexplained when the assessee later showed, through affidavits and supporting material, that it belonged to family members and fell within CBDT-prescribed limits. The Tribunal held that a claim is not barred merely because no revised return was filed, and appellate authorities may entertain it where the relevant facts are already on record. It further applied the principle that there is no estoppel against law, so tax can be levied only in accordance with law and not because of an erroneous or precautionary disclosure. The addition was deleted. Case-Laws Income Tax Wed, 21 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400112