https://www.taxtmi.com/caselaws?id=303463 The appeal of the Revenue was dismissed, and the appeal of the assessee was allowed in part. The Tribunal upheld the deletion of the addition of Rs.50 lakhs alleged to be received from Natvar Parikh & Co. based on lack of evidence. The Tribunal also rejected the addition of Rs.74,565 as the value of jewellery not matching the declared income, finding it was acquired from personal expenses. The Tribunal accepted the additional ground on capital gains from a family settlement, remanding the matter for fresh consideration by the AO. en-us Fri, 04 Nov 2016 00:00:00 +0530 Tue, 26 Jul 2022 09:16:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303463 The appeal of the Revenue was dismissed, and the appeal of the assessee was allowed in part. The Tribunal upheld the deletion of the addition of Rs.50 lakhs alleged to be received from Natvar Parikh & Co. based on lack of evidence. The Tribunal also rejected the addition of Rs.74,565 as the value of jewellery not matching the declared income, finding it was acquired from personal expenses. The Tribunal accepted the additional ground on capital gains from a family settlement, remanding the matter for fresh consideration by the AO. Case-Laws Income Tax Fri, 04 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303463