https://www.taxtmi.com/caselaws?id=300298 The ITAT Delhi ruled in favor of the assessee in an appeal against the CIT(A)'s order for Assessment Year 2013-14. The court held that jewelry found during a search did not belong to the assessee but to his wife, as confirmed by their son. Therefore, the addition of jewelry in the assessee's hands was deemed unjustified. Additionally, the court allowed the appeal regarding the addition of unaccounted cash, noting it was kept for emergency medical situations for the senior citizen assessee and his wife. The additions made by the Assessing Officer were rejected, emphasizing correct attribution of assets and considering specific circumstances. en-us Wed, 03 Jul 2019 00:00:00 +0530 Sat, 22 Jan 2022 08:45:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300298 The ITAT Delhi ruled in favor of the assessee in an appeal against the CIT(A)'s order for Assessment Year 2013-14. The court held that jewelry found during a search did not belong to the assessee but to his wife, as confirmed by their son. Therefore, the addition of jewelry in the assessee's hands was deemed unjustified. Additionally, the court allowed the appeal regarding the addition of unaccounted cash, noting it was kept for emergency medical situations for the senior citizen assessee and his wife. The additions made by the Assessing Officer were rejected, emphasizing correct attribution of assets and considering specific circumstances. Case-Laws Income Tax Wed, 03 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300298