Addition for excess Gold – ITAT extends benefit of CBDT Instruction to mother of married female assessee

Muppavarapu Kavitha Vs ACIT (ITAT Visakhapatnam)

It was contended that mother of the assessee is staying with her daughter, who is the only daughter and hence the benefit of CBDT Instruction No. 1916 should also be extended to the mother of the assessee.

Admitted facts are that the gold jewellery belonging to family members was seized to the extent of 1628.025 grams and there is no dispute on the fact that as per the CBDT Instruction No.1916, dated 11/5/1994 that in a case of a person who

Please become a Premium member. If you are already a Premium member, login here to access the full content.