2018 (11) TMI 379

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.... Assessing Officer vide his Order dated 26.03.2014. 2. The facts of the case in brief are that the assessee was subject to search u/s. 132 of the Act at her residence (at Bhatti Colony, Nawanshahar) on 18.02.2010, whereat (gold & diamond) jewellery valued at Rs. 19.29 lacs was found, and the assessee accordingly questioned about the source thereof in the ensuing assessment proceedings, initiated (as it appears) by issue of notice u/s. 142(1) on 23.02.2011. The assessee explained the same to be her streedhan, for which a credit of Rs. 6 lacs was allowed by the Assessing Officer (AO), making an addition for the balance Rs. 13.29 lacs vide order u/s. 144 dated 28.12.2011. In appeal, the ld. CIT(A) allowed a further relief of Rs. 8.29 lacs on....

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....see's mother-in-law and daughter-in-law. 'Streedhan' is the property acquired by a married lady out of the savings effected from the money she gets from her spouse (or any other male member, as Karta of the HUF) for running the household or for her personal maintenance. Clearly, there could be no standardization with regard thereto, which would depend upon the amount provided to the lady for the purpose, and for the period for it is, viz., 5 years, 10 years, etc. Further, any other asset/s acquired out of streedhan after marriage would also need to be taken into account for the purpose, if one were to arrive at a reasonable estimate of how much jewellery could, in the facts and circumstances of the case, be ascribed to her streedhan and av....

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....that from other two ladies of the house. How could, then, Explanation 5A apply to the assessee qua the entire jewellery? We are conscious that the 'control' and 'possession', only which would justify the inference of the jewellery found in search as belonging to the assessee, cannot be confined to mean only that recovered from the assessee's room or locker, etc.; the matter being factual, so that it has to be determined in the conspectus of the facts and circumstances of the case. The Revenue has, however, apart from presuming the jewellery found to be of the assessee, who appears to be the main lady of the house, done precious little to lead the presumption in law of the jewellery found being solely the assessee's, as by questioning her or....