Case Law Details
Case Name : Rekha Khaitan Vs DCIT (ITAT Delhi)
Related Assessment Year : 2019-20
Courts :
All ITAT ITAT Delhi
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Rekha Khaitan Vs DCIT (ITAT Delhi)
ITAT Delhi held that more specific plea and explanation ought to be given by an assessee for discharging burden u/s 69B of the Income Tax Act to explain jewelry beyond that mentioned in Wealth Tax Return.
Facts- The assessee was directed to explain the source of jewelry weighing worth Rs. 7,64,46,500/- found from residence and bank locker of the assessee. After taking into consideration the wealth tax return and invoices the Ld. AO sought explanation of jewelry worth
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