https://www.taxtmi.com/caselaws?id=446939 ITAT Delhi dismissed revenue's appeal regarding unexplained investments. The tribunal upheld CIT(A)'s deletion of additions for two watches, finding they were exchanged items already declared in Wealth Tax Returns with proper reconciliation statements. For jewellery found in locker, ITAT confirmed deletion as items were acquired before the six-year block period starting from search date. Regarding foreign currency, the tribunal upheld relief granted as currency belonged to another individual who had signed seizure inventory and applied for return under section 132B. en-us Wed, 06 Sep 2023 00:00:00 +0530 Fri, 15 Dec 2023 10:53:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446939 ITAT Delhi dismissed revenue's appeal regarding unexplained investments. The tribunal upheld CIT(A)'s deletion of additions for two watches, finding they were exchanged items already declared in Wealth Tax Returns with proper reconciliation statements. For jewellery found in locker, ITAT confirmed deletion as items were acquired before the six-year block period starting from search date. Regarding foreign currency, the tribunal upheld relief granted as currency belonged to another individual who had signed seizure inventory and applied for return under section 132B. Case-Laws Income Tax Wed, 06 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446939