2015 (3) TMI 96

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.... Income Tax Appellate Tribunal, Jodhpur Bench, Jodhpur arrived at the conclusion that the Commissioner of Income-tax was justified in concluding that the Assessing Officer was not justified in treating the gold ornaments, belonging to the family diety and purchased by Shri Chandra Prakash, as unexplained investment. In appeal giving challenge to that, this Court by order dated 03rd April 2007 sett....

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....ioner of Income-tax (Appeals). The Commissioner of Income-tax, after hearing learned counsel for the appellant as well as departmental representative, arrived at the conclusion as under: "I hold that the AO was not justified in not accepting the explanation of the appellant in respect of gold ornaments weighing 241 grams, which the appellant had claimed that the same belonged to the family diety.....