ITAT Deletes Jewellery Addition as Inheritance & Purchase Records Explained Source

Jyoti Cariappa Saikia Vs ACIT (ITAT Delhi) The assessee appealed before the ITAT Delhi against the order of the Commissioner of Income Tax (Appeals) [CIT(A)] for Assessment Year 2021-22, challenging proceedings initiated under section 153C of the Income-tax Act as well as the addition sustained under section 69A in respect of jewellery found during a search. The CIT(A) had granted partial relief by deleting part of the addition while sustaining an addition of ₹18,11,026 towards alleged unexplained jewellery. The assessee raised legal grounds contending that the proceedings under section 153C...