2018 (10) TMI 1289

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.... ORDER PER MANISH BORAD, AM. This appeal of Assessee pertaining to A.Y. 2015-16 is directed against the order of Ld. Commissioner of Income Tax(Appeals)-3, Bhopal (in short 'CIT(A)'), dated 29.06.2017 which is arising out of the order u/s 143(3) of the Income Tax Act 1961(hereinafter called as the 'Act') framed on 30.09.2016 by DCIT (Central)-I, Bhopal. 2. The assessee has raised followi....

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.... Act were framed for the block of assessments from Assessment Year 2009-10 to 2015-16. Consolidated assessment order was framed on 30.09.2016. For Assessment Year 2015-16 only addition was made for Rs. 7,51,535/- towards unexplained investment in jewellery which comprised of gold ornaments weighing 242 grams (net Weight) valuing at Rs. 6,76,257/- and silver articles/utensils weighing 1812 grams....

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....ve heard rival contentions and perused the records placed before us. The only issue before us is that whether Ld.CIT(A) was justified in confirming the addition of Rs. 75,278/- for the alleged unaccounted investment in silver articles weighing 1812 grams. 10. We find that the Central Board of Direct Taxes issued instruction No.1916 dated 11.5.1994 which reads as follows; "Instruction N....

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....r married lady, 250 grms per unmarried lady and 100 gms per male member of the family, need not be seized". 11. In the instant case Ld.CIT(A) following the above referred CDT instructions allowed the claim of investment in gold jewellery weighing 242 gms but confirmed the addition for silver articles weighing 1812 gms. The above referred instructions refers only to "jewellery and ornaments" and....