https://www.taxtmi.com/caselaws?id=772018 ITAT Raipur upheld addition of Rs. 8,89,170/- for unexplained bullion (329 grams) under Section 69 as assessee failed to provide documentary evidence proving conversion from old jewellery. However, tribunal partially allowed appeal regarding gold jewellery (437.700 grams), applying CBDT Instruction No. 1916 and judicial precedents. Considering joint ownership of locker and reasonable possession limits, addition was reduced from Rs. 11,94,921/- to Rs. 1,71,886/- for only 62.962 grams of unexplained jewellery. Total sustained addition: Rs. 10,61,056/-. en-us Thu, 12 Dec 2024 00:00:00 +0530 Tue, 03 Jun 2025 08:50:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772018 ITAT Raipur upheld addition of Rs. 8,89,170/- for unexplained bullion (329 grams) under Section 69 as assessee failed to provide documentary evidence proving conversion from old jewellery. However, tribunal partially allowed appeal regarding gold jewellery (437.700 grams), applying CBDT Instruction No. 1916 and judicial precedents. Considering joint ownership of locker and reasonable possession limits, addition was reduced from Rs. 11,94,921/- to Rs. 1,71,886/- for only 62.962 grams of unexplained jewellery. Total sustained addition: Rs. 10,61,056/-. Case-Laws Income Tax Thu, 12 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772018