Jewellery prescribed limit treated explained Revenue shows anything contrary

Divya Devi Vs ACIT (ITAT Delhi) ITAT Delhi ruling in Divya Devi vs. ACIT: Jewellery rebate as per CBDT’s Instruction No. 1916. Download full text of the order. Date: 16-05-2014. Jewellery upto prescribed limit must be treated as explained unless Revenue shows anything to contrary Though it is true that the CBDT Instruction No. 1916, dt. 11th may, 1996 lays down guidelines for seizure of jewellery and ornaments. In the course of search, the same takes into account the quantity of jewellery which would generally be held by family members of an assessee belonging to an ordinary Hindu househ...