https://www.taxtmi.com/caselaws?id=450648 ITAT Jodhpur held that addition under section 69A read with section 115BBE for jewellery found in bank locker was unjustified. The tribunal found 141.10 gms jewellery in locker and 700 gms claimed at residence, totaling 841.10 gms. However, appellant was entitled to 950 gms credit under CBDT guidelines (500 gms for wife, 250 gms for daughter, 100 gms each for son and appellant). Since total found jewellery was less than permissible limit, no addition was warranted. The tribunal deleted the addition of Rs. 3,86,552 and allowed appellant's ground. en-us Thu, 07 Mar 2024 00:00:00 +0530 Sat, 09 Mar 2024 07:37:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450648 ITAT Jodhpur held that addition under section 69A read with section 115BBE for jewellery found in bank locker was unjustified. The tribunal found 141.10 gms jewellery in locker and 700 gms claimed at residence, totaling 841.10 gms. However, appellant was entitled to 950 gms credit under CBDT guidelines (500 gms for wife, 250 gms for daughter, 100 gms each for son and appellant). Since total found jewellery was less than permissible limit, no addition was warranted. The tribunal deleted the addition of Rs. 3,86,552 and allowed appellant's ground. Case-Laws Income Tax Thu, 07 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450648