Mere mismatch of description cannot be a reason to treat the same as unexplained

Brief of the case:

• The ITAT Mumbai in the case of M/s Parle Bottling Pvt. Ltd. held that the mismatch in description of jewellery as recorded vis a vis as found by valuer cannot be in its own a sole basis for treating mismatched jewellery as unexplained particularly when minor difference in carat weight.
• The description changes due to conversion or remaking of jewellery as it is very common and merely because the assessee fails to produce bills for remaking cannot be taken as basis for treating the jewellery as unexplained.

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