Case Law Details
Spureet Kaur Negi Vs ACIT (ITAT Mumbai)
ITAT find that jewelry has been found during the course of search from the possession of the assessee. The jewellery was inventorised. The claim of the assessee that this has been received as a gift from relatives and friends is not at all substantiated but merely remained a claim. In view of this we do not find any infirmity in the orders of the learned lower authorities in confirming the addition of ₹ 1,867,098/– u/s 69B of the act after granting benefit of 500 g of gold jewellery to the assessee in terms of CBDT instruction number 1916.
FULL TEXT OF THE ORDER OF ITAT MUMBAI
These are the seven appeals filed by one Assessee Mrs Supreet Kaur Nagi [Assessee/ Appellant] for seven assessment years where in assessment is made by the Assessing officer pursuant to search on 30/5/2008. Many of the issues involved in these appeals are common. Both the parties argued them together and therefore these [7] appeals are disposed by this common order.
2. ITA No. 5940/Mum/2019 is filed by the assessee against the order of Commissioner of Income-tax (Appeals)-51, Mumbai [the learned CIT (A)] dated 24.07.2019 for A.Y. 2003-04 raising following grounds of appeal:-
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