https://www.taxtmi.com/caselaws?id=445969 The ITAT Delhi allowed the assessee's appeal against additions under section 69A for stock differences found during survey. The tribunal held that differences in 22KT gold jewellery (113.50 gms out of 36,943 gms - 0.32%) and inter-mixing of 18KT/14KT gold jewellery (453 gms out of 77,962 gms - 0.58%) were estimation errors requiring no adverse inference. Regarding diamond weight differences in studded jewellery, the tribunal found the valuation report contained near estimations rather than absolute weights since diamonds were never separated from gold jewellery during weighing, making the weight determination improper and warranting no addition. en-us Wed, 08 Nov 2023 00:00:00 +0530 Thu, 23 Nov 2023 07:35:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445969 The ITAT Delhi allowed the assessee's appeal against additions under section 69A for stock differences found during survey. The tribunal held that differences in 22KT gold jewellery (113.50 gms out of 36,943 gms - 0.32%) and inter-mixing of 18KT/14KT gold jewellery (453 gms out of 77,962 gms - 0.58%) were estimation errors requiring no adverse inference. Regarding diamond weight differences in studded jewellery, the tribunal found the valuation report contained near estimations rather than absolute weights since diamonds were never separated from gold jewellery during weighing, making the weight determination improper and warranting no addition. Case-Laws Income Tax Wed, 08 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445969