2015 (10) TMI 1407

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the Respondent : Shri Rajat Mitra DR JUDGEMENT P. M. Jagtap (Accountant Member).- This appeal filed by the assessee is directed against the order of the learned Commissioner of Income-tax (Appeals)-7, Hyderabad dated December 11, 2013 and the solitary issue arising out of the same relates to the addition made by the Assessing Officer on account of unexplained jewellery found during the co....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....y of 471 grams, it was submitted by the assessee that the same represented streedhan of his wife, which was received by her on the occasion of marriage, birth of a child and subsequent birthdays and other functions over a period of 20 to 25 years. The explanation of the assessee as regards jewellery representing streedhan of his wife received on different occasions was not accepted by the Assessin....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Commissioner of Income-tax (Appeals), the assessee has preferred this appeal before the Tribunal. 4. We have heard the arguments of both sides and also perused the relevant material on record. Learned counsel for the assessee has relied on the Instruction of the Central Board of Direct Taxes No. 1916 of May 11, 1994 laying down the guidelines that in the case of a person not assessed to wealth....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....es Instruction No. 1916 dated May 11, 1994 impliedly suggests the quantity of jewellery that a family is supposed to hold as received at the time of marriage from parents and in laws. It was also held that though the said Instruction gives a guideline in the matter of seizure, the same can be extended to treat the quantum of jewellery as mentioned therein as explained, keeping in view the customs ....