https://www.taxtmi.com/caselaws?id=471738 Reasonableness of jewellery explanations in search assessments must be evaluated against family status, customary gifts and household circumstances; the jewellery addition was eliminated after the items were treated as nominal and reasonably explained. Watch valuation requires a fair opportunity for independent valuation where seized items remain in departmental custody and their genuineness or nature is disputed; the watch addition requires fresh examination. Foreign currency claimed to arise from overseas travel or prior non-resident status requires cogent supporting evidence, such as customs declarations or purchase records; the unexplained-money addition remained enforceable. en-us Fri, 28 Mar 2025 00:00:00 +0530 Wed, 16 Sep 2026 13:56:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471738 Reasonableness of jewellery explanations in search assessments must be evaluated against family status, customary gifts and household circumstances; the jewellery addition was eliminated after the items were treated as nominal and reasonably explained. Watch valuation requires a fair opportunity for independent valuation where seized items remain in departmental custody and their genuineness or nature is disputed; the watch addition requires fresh examination. Foreign currency claimed to arise from overseas travel or prior non-resident status requires cogent supporting evidence, such as customs declarations or purchase records; the unexplained-money addition remained enforceable. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471738