https://www.taxtmi.com/caselaws?id=767420 ITAT Jaipur allowed the assessee's appeal against additions made by AO under Section 69A for unexplained money. The tribunal held that statements made during search cannot be conclusive evidence and may be retracted later, citing SC precedent. Regarding excess silver jewelry stock, ITAT found AO made no proper inquiry and assessee provided documentary evidence including purchase bills and stock register. For gold jewelry discrepancies between 18ct and 22ct ornaments, the tribunal noted valuer's improper segregation method caused confusion with tags, and overall weight difference was negligible due to different weighing machines used. All additions were deleted and assessee's grounds allowed. en-us Tue, 25 Feb 2025 00:00:00 +0530 Tue, 18 Mar 2025 08:35:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767420 ITAT Jaipur allowed the assessee's appeal against additions made by AO under Section 69A for unexplained money. The tribunal held that statements made during search cannot be conclusive evidence and may be retracted later, citing SC precedent. Regarding excess silver jewelry stock, ITAT found AO made no proper inquiry and assessee provided documentary evidence including purchase bills and stock register. For gold jewelry discrepancies between 18ct and 22ct ornaments, the tribunal noted valuer's improper segregation method caused confusion with tags, and overall weight difference was negligible due to different weighing machines used. All additions were deleted and assessee's grounds allowed. Case-Laws Income Tax Tue, 25 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767420