https://www.taxtmi.com/caselaws?id=774104 The ITAT Delhi ruled in favor of the assessee on two key issues. First, regarding unaccounted income from a contractor, the tribunal deleted the additions following the precedent of Rajeshwar Singh Yadav case, finding no substantial material difference in facts. Second, concerning unexplained jewelry worth Rs. 2,76,101 (76.064 gms), the tribunal accepted the assessee's explanation that the ornaments were engagement gifts from in-laws when the daughter got engaged. The tribunal found it unreasonable to expect precise explanations for jewelry holdings among family members and rejected the Revenue's mathematical approach to additions. en-us Fri, 13 Jun 2025 00:00:00 +0530 Thu, 03 Jul 2025 08:34:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774104 The ITAT Delhi ruled in favor of the assessee on two key issues. First, regarding unaccounted income from a contractor, the tribunal deleted the additions following the precedent of Rajeshwar Singh Yadav case, finding no substantial material difference in facts. Second, concerning unexplained jewelry worth Rs. 2,76,101 (76.064 gms), the tribunal accepted the assessee's explanation that the ornaments were engagement gifts from in-laws when the daughter got engaged. The tribunal found it unreasonable to expect precise explanations for jewelry holdings among family members and rejected the Revenue's mathematical approach to additions. Case-Laws Income Tax Fri, 13 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774104