₹1.48 Cr Jewellery Addition Deleted as Declared Holdings Exceeded Search Findings

ACIT Vs Gurpreet Kochar (ITAT Delhi) The Revenue filed an appeal before the Income Tax Appellate Tribunal (ITAT) Delhi against the order dated 05.10.2023 of the Commissioner of Income Tax (Appeals) [CIT(A)], Delhi-27, in the case of ACIT, Central Circle-17, New Delhi v. Gurpreet Kaur Kochar for Assessment Year 2017–18. The dispute arose from additions made during scrutiny assessment under Section 143(3) of the Income Tax Act, 1961, following a search and seizure operation conducted under Section 132 on 22.10.2016 in the “Sukhija Group of cases,” which included the assessee. Assessment an...