https://www.taxtmi.com/caselaws?id=428323 The Tribunal partially allowed the appeal in ITA No. 1546/Mum/2021 for A.Y. 2018-19, directing the ld. AO to recompute the addition for gold coins seized during a search under section 132 of the Income Tax Act, 1961. The Tribunal considered the customary nature of receiving gold coins as gifts and the explanations provided by the assessee, leading to the decision that only 100 grams of gold coins should be subject to addition. The appeal outcome resulted in the partial allowance of the appeal, with the decision pronounced on 23/09/2022. en-us Fri, 23 Sep 2022 00:00:00 +0530 Wed, 28 Sep 2022 09:23:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428323 The Tribunal partially allowed the appeal in ITA No. 1546/Mum/2021 for A.Y. 2018-19, directing the ld. AO to recompute the addition for gold coins seized during a search under section 132 of the Income Tax Act, 1961. The Tribunal considered the customary nature of receiving gold coins as gifts and the explanations provided by the assessee, leading to the decision that only 100 grams of gold coins should be subject to addition. The appeal outcome resulted in the partial allowance of the appeal, with the decision pronounced on 23/09/2022. Case-Laws Income Tax Fri, 23 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428323