https://www.taxtmi.com/highlights?id=77390 Addition of excess jewellery found in search - The Court interpreted CBDT Instruction 1916 and emphasized that it pertains to the seizure stage and does not dictate assessment procedures. It allows discretion to exclude larger quantities of jewellery from seizure based on factors like family status and community customs. Since the circular is applicable only during the seizure stage, the Court ruled that the respondent's failure to follow it during assessment does not warrant interference. The Court reminded the petitioner of the availability of an alternate remedy before the Appellate Commissioner u/s 246A of the Income Tax Act. en-us Mon, 13 May 2024 16:50:25 +0530 Mon, 13 May 2024 16:50:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=77390 Addition of excess jewellery found in search - The Court interpreted CBDT Instruction 1916 and emphasized that it pertains to the seizure stage and does not dictate assessment procedures. It allows discretion to exclude larger quantities of jewellery from seizure based on factors like family status and community customs. Since the circular is applicable only during the seizure stage, the Court ruled that the respondent's failure to follow it during assessment does not warrant interference. The Court reminded the petitioner of the availability of an alternate remedy before the Appellate Commissioner u/s 246A of the Income Tax Act. Highlights Income Tax Mon, 13 May 2024 16:50:25 +0530 https://www.taxtmi.com/highlights?id=77390