https://www.taxtmi.com/caselaws?id=304354 The Tribunal allowed the appeal of the assessee, directing the deletion of the addition upheld by the Commissioner of Income Tax (Appeals) [CIT(A)]. The Tribunal found merit in the appellant's arguments regarding discrepancies in the quantity of jewellery recorded and the failure to credit jewellery to the son, in line with CBDT guidelines. By considering the correct quantity of jewellery and providing credit as per guidelines, the Tribunal concluded that there was no unexplained excess jewellery, leading to the removal of the addition made during assessment proceedings and ruling in favor of the assessee. en-us Wed, 07 Oct 2020 00:00:00 +0530 Thu, 22 Sep 2022 07:38:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304354 The Tribunal allowed the appeal of the assessee, directing the deletion of the addition upheld by the Commissioner of Income Tax (Appeals) [CIT(A)]. The Tribunal found merit in the appellant's arguments regarding discrepancies in the quantity of jewellery recorded and the failure to credit jewellery to the son, in line with CBDT guidelines. By considering the correct quantity of jewellery and providing credit as per guidelines, the Tribunal concluded that there was no unexplained excess jewellery, leading to the removal of the addition made during assessment proceedings and ruling in favor of the assessee. Case-Laws Income Tax Wed, 07 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304354