https://www.taxtmi.com/caselaws?id=430625 The Tribunal condoned the delay in filing the appeal due to Covid, admitting it for adjudication. Regarding the addition made under section 68 of the Income Tax Act for jewellery worth Rs.11,25,900, the Tribunal accepted evidence showing the jewellery was a genuine gift from the grandmother's Streedhan, exempting it under Section 56(2)(vii) as a gift from a relative. The Tribunal dismissed the Assessing Officer's concerns, ruling in favor of the assessee and deleting the addition. The appeal was allowed, affirming the genuineness of the gift and the exemption under the Income Tax Act. en-us Fri, 30 Sep 2022 00:00:00 +0530 Thu, 24 Nov 2022 09:05:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430625 The Tribunal condoned the delay in filing the appeal due to Covid, admitting it for adjudication. Regarding the addition made under section 68 of the Income Tax Act for jewellery worth Rs.11,25,900, the Tribunal accepted evidence showing the jewellery was a genuine gift from the grandmother's Streedhan, exempting it under Section 56(2)(vii) as a gift from a relative. The Tribunal dismissed the Assessing Officer's concerns, ruling in favor of the assessee and deleting the addition. The appeal was allowed, affirming the genuineness of the gift and the exemption under the Income Tax Act. Case-Laws Income Tax Fri, 30 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430625