https://www.taxtmi.com/caselaws?id=60841 The Tribunal upheld the Commissioner's decision to reassess jewellery seized during a search operation as unexplained investment in the hands of the assessee. It ruled that the assessing officer could not have considered the addition as the particulars of the seizure were not before him. Additionally, it determined that the order of the assessing officer had not merged with the appellate order, allowing the Commissioner to initiate revision proceedings under section 263. The Tribunal emphasized that the order under section 132(5) was interim and not conclusive, affirming the Commissioner's authority to reassess the jewellery. en-us Mon, 11 May 1987 00:00:00 +0530 Sat, 08 Jan 2011 12:48:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60841 The Tribunal upheld the Commissioner's decision to reassess jewellery seized during a search operation as unexplained investment in the hands of the assessee. It ruled that the assessing officer could not have considered the addition as the particulars of the seizure were not before him. Additionally, it determined that the order of the assessing officer had not merged with the appellate order, allowing the Commissioner to initiate revision proceedings under section 263. The Tribunal emphasized that the order under section 132(5) was interim and not conclusive, affirming the Commissioner's authority to reassess the jewellery. Case-Laws Income Tax Mon, 11 May 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60841