https://www.taxtmi.com/caselaws?id=310241 The ITAT allowed the appeal, directing the Assessing Officer to delete the addition of Rs.7,56,105 based on the findings that the jewellery was within reasonable limits as per CBDT Circular No.1916 and in accordance with customs prevailing in Hindu society. The Tribunal upheld the assessee's explanation that the jewellery was received from family members, and considering the total jewellery found was less than 500 gms, it could not be treated as unexplained investment. en-us Mon, 30 Nov 2015 00:00:00 +0530 Fri, 13 Oct 2023 21:25:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310241 The ITAT allowed the appeal, directing the Assessing Officer to delete the addition of Rs.7,56,105 based on the findings that the jewellery was within reasonable limits as per CBDT Circular No.1916 and in accordance with customs prevailing in Hindu society. The Tribunal upheld the assessee's explanation that the jewellery was received from family members, and considering the total jewellery found was less than 500 gms, it could not be treated as unexplained investment. Case-Laws Income Tax Mon, 30 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310241