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CBDT Jewellery Instruction Not Applicable to Bullion: ITAT Delhi Upholds Section 69A Addition
Case Law Details
- Case Name
- Smt. Nirmal Puri Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Delhi
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Smt. Nirmal Puri Vs ACIT (ITAT Delhi)
CBDT Jewellery Instruction Not Applicable to Bullion: ITAT Delhi Upholds Addition under Section 69A
The Delhi Bench “G” of the ITAT dismissed the appeal of Smt. Nirmal Puri (AY 2020-21) and upheld the addition of ₹16.72 lakh under section 69A read with section 115BBE in respect of bullion seized during search proceedings.
During a search under section 132 conducted in connected cases, bullion weighing 426.600 grams valued at ₹16,72,272 and cash of ₹2.41 lakh were found in the assessee’s bank locker. While the cash was not disputed, the assessee...
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