https://www.taxtmi.com/caselaws?id=448778 The ITAT Delhi allowed the appellant's appeal against addition under section 69A for unexplained jewellery found during search and seizure operations under section 132. The appellant claimed the jewellery was received as gifts during various occasions like marriage and birth of children, which are common in Indian culture. Following the precedent in Preeti Singh case, the Tribunal held that since the assessee belonged to a wealthy family with sufficient return income and jewellery was received from relatives on occasions, the excess jewellery was reasonable and no addition under section 69A was warranted. en-us Fri, 17 Nov 2023 00:00:00 +0530 Mon, 29 Jan 2024 17:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448778 The ITAT Delhi allowed the appellant's appeal against addition under section 69A for unexplained jewellery found during search and seizure operations under section 132. The appellant claimed the jewellery was received as gifts during various occasions like marriage and birth of children, which are common in Indian culture. Following the precedent in Preeti Singh case, the Tribunal held that since the assessee belonged to a wealthy family with sufficient return income and jewellery was received from relatives on occasions, the excess jewellery was reasonable and no addition under section 69A was warranted. Case-Laws Income Tax Fri, 17 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448778