ITAT deletes 25% addition for jewellery made by CIT(A) without any rational basis

Vijay Kumar Maheshwari Vs DCIT (ITAT Jaipur)

Coming to the matter relating to jewellery received from Late Shri Shri Ramswaroop Maheshwari, it is noted that the assessee has submitted before the ld CIT(A) as well as before the AO that Late Shri Ramswaroop Maheshwari during the period 2005-06 was not keeping well and wanted to handover the jewellery to the assessee and other family members and for the purposes, has got the valuation of the jewellery done by M/s Kankariya jewellers on 12.07.2005 and thereafter, he has handed over the jewellery as well as

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