https://www.taxtmi.com/caselaws?id=420479 The Tribunal allowed the appeals of the assessees, deleting the addition of unexplained jewellery seized during a search. The Tribunal emphasized the changing nature of jewellery over time, discrepancies in weight, and the importance of considering family status and customs. It noted the Assessing Officer's failure to exclude a larger quantity of jewellery from seizure and denied benefits under CBDT Circular No. 1916. The Tribunal set aside the orders of the Revenue Authorities and ruled in favor of the assessees, pronouncing the order on 07.02.2022. en-us Mon, 07 Feb 2022 00:00:00 +0530 Mon, 04 Apr 2022 09:13:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420479 The Tribunal allowed the appeals of the assessees, deleting the addition of unexplained jewellery seized during a search. The Tribunal emphasized the changing nature of jewellery over time, discrepancies in weight, and the importance of considering family status and customs. It noted the Assessing Officer's failure to exclude a larger quantity of jewellery from seizure and denied benefits under CBDT Circular No. 1916. The Tribunal set aside the orders of the Revenue Authorities and ruled in favor of the assessees, pronouncing the order on 07.02.2022. Case-Laws Income Tax Mon, 07 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420479