https://www.taxtmi.com/caselaws?id=312038 ITAT Delhi ruled in favor of the assessee regarding addition under section 69A for jewellery found during search operations. The appellant claimed jewellery was received as gifts on various occasions including marriage and childbirth, common in Indian culture. The tribunal noted that collecting 906.900 gms of jewellery over 25 years of married life is not abnormal, citing Delhi HC precedent. Following established jurisprudence that excess jewellery is reasonable for wealthy families receiving gifts from relatives, the tribunal directed deletion of the addition made under section 69A. en-us Mon, 13 Nov 2023 00:00:00 +0530 Mon, 29 Jan 2024 15:57:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312038 ITAT Delhi ruled in favor of the assessee regarding addition under section 69A for jewellery found during search operations. The appellant claimed jewellery was received as gifts on various occasions including marriage and childbirth, common in Indian culture. The tribunal noted that collecting 906.900 gms of jewellery over 25 years of married life is not abnormal, citing Delhi HC precedent. Following established jurisprudence that excess jewellery is reasonable for wealthy families receiving gifts from relatives, the tribunal directed deletion of the addition made under section 69A. Case-Laws Income Tax Mon, 13 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312038