https://www.taxtmi.com/caselaws?id=766268 The ITAT Jaipur allowed the assessee's appeal, directing deletion of additions made for unexplained cash, gold/silver jewellery, and silver utensils found during search. The tribunal held that without evidence showing cash withdrawals were utilized elsewhere, withdrawn cash should be considered available with the assessee. Regarding jewellery found in family member's possession, the tribunal ruled additions in assessee's hands were unjustified when items belonged to the family collectively. The AO's addition calculations for silver articles were found prima facie incorrect, and without purchase evidence, deletions were directed considering family status and material evidence. en-us Tue, 07 Jan 2025 00:00:00 +0530 Fri, 21 Feb 2025 08:23:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766268 The ITAT Jaipur allowed the assessee's appeal, directing deletion of additions made for unexplained cash, gold/silver jewellery, and silver utensils found during search. The tribunal held that without evidence showing cash withdrawals were utilized elsewhere, withdrawn cash should be considered available with the assessee. Regarding jewellery found in family member's possession, the tribunal ruled additions in assessee's hands were unjustified when items belonged to the family collectively. The AO's addition calculations for silver articles were found prima facie incorrect, and without purchase evidence, deletions were directed considering family status and material evidence. Case-Laws Income Tax Tue, 07 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766268