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CIT(A)’s Jewellery Reconciliation Upheld: Unexplained Investment u/s 69 Deleted
Case Law Details
- Case Name
- DCIT Vs Jagathrakshakan Srinisha (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Chennai
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DCIT Vs Jagathrakshakan Srinisha (ITAT Chennai)
CIT(A)’s Jewellery Reconciliation Upheld—Unexplained Investment u/s 69 Deleted Except ₹72.45 Lakh Treated as Business Income; Section 115BBE & 270A Penalty Also Cancelled
In this case, Revenue challenged the detailed & fact-based relief granted by CIT(A) in respect of additions made during search proceedings, where AO had treated jewellery valued at ₹14.60 crore as unexplained investment in the hands of Assessee, Ms. Jagathrakshakan Srinisha. The jewellery had been found not in her premises but in the premises of ...
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