https://www.taxtmi.com/caselaws?id=446662 Delhi HC upheld ITAT's deletion of additions for unexplained jewellery, paintings and wrist watches during search u/s 132. For jewellery, family's wealth tax return showed higher value than seized items with proper reconciliation. For paintings, multiple valuations differed and assessee provided purchase details with banking evidence for recent acquisition. For watches, substantial declared income and withdrawals justified deletion. Court found ITAT's factual findings non-perverse based on evidence presented. en-us Wed, 08 Nov 2023 00:00:00 +0530 Wed, 18 Feb 2026 16:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446662 Delhi HC upheld ITAT's deletion of additions for unexplained jewellery, paintings and wrist watches during search u/s 132. For jewellery, family's wealth tax return showed higher value than seized items with proper reconciliation. For paintings, multiple valuations differed and assessee provided purchase details with banking evidence for recent acquisition. For watches, substantial declared income and withdrawals justified deletion. Court found ITAT's factual findings non-perverse based on evidence presented. Case-Laws Income Tax Wed, 08 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446662