https://www.taxtmi.com/caselaws?id=754114 The ITAT Jodhpur allowed the assessee's appeal regarding additions made during search and seizure proceedings. For gold and silver jewelry, the tribunal applied CBDT guidelines for reasonable holdings (500g for married women, 250g for unmarried women, 100g for males) and deleted the addition of Rs. 28,96,104 based on proper working calculations submitted by the assessee. Regarding cash of Rs. 5,41,000 found during search, while the AO added Rs. 3 lakh and CIT(A) sustained Rs. 2 lakh, the ITAT deleted the entire cash addition considering the assessee's family size, social status, wealth tax filing history, and cooperation with revenue authorities. en-us Mon, 18 Mar 2024 00:00:00 +0530 Tue, 18 Jun 2024 08:29:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754114 The ITAT Jodhpur allowed the assessee's appeal regarding additions made during search and seizure proceedings. For gold and silver jewelry, the tribunal applied CBDT guidelines for reasonable holdings (500g for married women, 250g for unmarried women, 100g for males) and deleted the addition of Rs. 28,96,104 based on proper working calculations submitted by the assessee. Regarding cash of Rs. 5,41,000 found during search, while the AO added Rs. 3 lakh and CIT(A) sustained Rs. 2 lakh, the ITAT deleted the entire cash addition considering the assessee's family size, social status, wealth tax filing history, and cooperation with revenue authorities. Case-Laws Income Tax Mon, 18 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754114