https://www.taxtmi.com/caselaws?id=441536 Unexplained jewellery addition could not be sustained where the seized and unseized jewellery was credibly shown to form part of joint family assets and the family head had already made a disclosure covering the same unaccounted jewellery. The Tribunal accepted that the presumption from mere possession was displaced by the family explanation and by the disclosure already on record in connected matters. On those facts, no separate addition for alleged undisclosed investment in jewellery could be retained in the assessee's hands, and the addition was deleted. en-us Tue, 08 Aug 2023 00:00:00 +0530 Thu, 10 Aug 2023 07:58:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441536 Unexplained jewellery addition could not be sustained where the seized and unseized jewellery was credibly shown to form part of joint family assets and the family head had already made a disclosure covering the same unaccounted jewellery. The Tribunal accepted that the presumption from mere possession was displaced by the family explanation and by the disclosure already on record in connected matters. On those facts, no separate addition for alleged undisclosed investment in jewellery could be retained in the assessee's hands, and the addition was deleted. Case-Laws Income Tax Tue, 08 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441536