TaxTMI 
TaxTMI 
2021 (10) TMI 266
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.... of Income Tax (Appeals), Allahabad (for short 'CIT(A)') for assessment year(ay) 2010-11, the appellate proceedings has arisen before ld. CIT(A) from the assessment order dated 20.12.2011 passed by ld. Assessing Officer(hereinafter called " the AO") u/s 143(3) of the Income-tax Act, 1961(hereinafter called "the Act"), for ay: 2010-11. This appeal was heard through video conferencing mode through Virtual Court by Division Bench of ITAT, Allahabad Bench, Allahabad, U.P. 2. The assessee has raised following grounds of appeal in memo of appeal filed with the tribunal: "1. That in any view of the matter the income of Rs. 16,99,440.00 as determined by the assessing officer vide assessment order dated 20.12.2011 and his actions as part....
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....ithout any search material is liable to be deleted. 5. That in any view of the matter the observations and findings of the two lower authorities for making and maintaining the addition as mentioned in their orders are unjustified, incorrect, without support of any search material and also contrary to the actual facts of the case therefore the part of addition as maintained by the CIT(A) is liable to be deleted. 6. That in any view of the matter the interest charged under various sections of the income tax Act is highly unjustified and illegal in the facts and circumstances of the case. 7. That in any view of the matter the appellant reserves his right to add or withdraw any ground of appeal before hearing of the a....
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....ry of jewellery. The AO observed that the assessee has not even submitted inventory of jewellery during the course of assessment proceedings. The AO observed that submissions have been made by the assessee that the assssee belongs to well known business family of Allahabad and having social status in the society. The AO treated 500 gms of jewellery as Stridhan of the assessee , which she might have been given on different occasions by her family members and relatives. Thus, the AO treated jewellery weighing 1225.040 gms as purchased out of income from undisclosed sources. The AO also observed that during search and seizure operations, the registered valuer has valued purity of the jewelleries of the assessee between 18/20 to 20/22 with rate....
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.... merits, and no arguments were advanced on legal grounds challenging the assessment. Ground No. 1 is general in nature and stand dismissed. Vide Ground No. 2, legal challenge is made to search conducted u/s 132 of the 1961 Act by claiming that the same was not a valid search. It is also claimed that mandatory requirements were not complied for framing a legal and valid assessment. It is also claimed vide ground number 5 that the additions were made without any search material. In the statement of fact filed before tribunal, the assessee has mainly stated that no incriminating material was found during the course of search and hence no additions can be made. So far as these legal challenges are concerned, first of all jewellery was found fro....
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.... to her social status and that she belongs to a reputed and big business family of Allahabad , having interests in large businesses. She has also claimed that even her parents were having wide business interests at the time of her marriage and she was bestowed large jewellery as 'Stridhan' by her parents and in-laws at the time of her marriage. She has claimed to have filed even photographs of her marriage to evidence that she was wearing large jewellery at the time of her marriage. She has also claimed to have filed confirmatory letter from her mother explaining that large jewellery were given to her by her parents at time of marriage, keeping in view their social and financial status. It is also claimed by her that 300 gms of jewellery wa....