Explained Gold Jewellery in Survey cannot be treated as Unexplained Investment

Fathima Jewellers Vs DCIT (ITAT Chennai)

In the case of Fathima Jewellers vs. DCIT (ITAT Chennai), the Income Tax Appellate Tribunal (ITAT) provided a crucial ruling regarding excess gold jewellery stock discovered during a survey. The ITAT clarified that this stock should not be considered an unexplained investment under the Income Tax Act.

Detailed Analysis:

1. Background: Fathima Jewellers is a retail business dealing

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