https://www.taxtmi.com/highlights?id=79412 Unexplained jewellery seized during search and seizure operations treated as explained based on assessee's high income and family status. Assessing Officer's addition u/s 69A for unexplained jewellery set aside, following jurisdictional High Court's decision in Ashok Chaddha case, which recognized holding of substantial jewellery as normal custom in Indian society. Assessee's explanation regarding jewellery held on behalf of sisters-in-law accepted. Appellate Tribunal allowed assessee's appeal and directed deletion of additions made u/s 69A. en-us Mon, 15 Jul 2024 08:18:43 +0530 Mon, 15 Jul 2024 08:18:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=79412 Unexplained jewellery seized during search and seizure operations treated as explained based on assessee's high income and family status. Assessing Officer's addition u/s 69A for unexplained jewellery set aside, following jurisdictional High Court's decision in Ashok Chaddha case, which recognized holding of substantial jewellery as normal custom in Indian society. Assessee's explanation regarding jewellery held on behalf of sisters-in-law accepted. Appellate Tribunal allowed assessee's appeal and directed deletion of additions made u/s 69A. Highlights Income Tax Mon, 15 Jul 2024 08:18:43 +0530 https://www.taxtmi.com/highlights?id=79412