https://www.taxtmi.com/caselaws?id=751011 The ITAT Chennai dismissed the assessee's cross-objection regarding unexplained money under section 69A, upholding additions for cash seized during search operations. The assessee failed to substantiate that income was earned over several years or provide acceptable working for spreading the income. However, the tribunal allowed the assessee's appeal on jewellery addition, following CBDT instructions and HC precedents that specified quantities are reasonable per Hindu customs. The assessee's sworn statement attributing jewellery to family members and 800 grams as Streedhan remained uncontroverted, supporting deletion of the jewellery addition. en-us Wed, 03 Apr 2024 00:00:00 +0530 Thu, 04 Apr 2024 10:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751011 The ITAT Chennai dismissed the assessee's cross-objection regarding unexplained money under section 69A, upholding additions for cash seized during search operations. The assessee failed to substantiate that income was earned over several years or provide acceptable working for spreading the income. However, the tribunal allowed the assessee's appeal on jewellery addition, following CBDT instructions and HC precedents that specified quantities are reasonable per Hindu customs. The assessee's sworn statement attributing jewellery to family members and 800 grams as Streedhan remained uncontroverted, supporting deletion of the jewellery addition. Case-Laws Income Tax Wed, 03 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751011