Reasonable jewellery according to the status of taxpayers cannot be seized.

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jewellery

IT: Where Assessing Officer under section 69A made addition on account of jewellery find in search of assessee, since assessee belong to a wealthy family and jewellery was receive on occasions from relatives, excess jewellery was very much reasonable and, thus, no addition under section 69A was call for
[2018] 93 taxmann.com 275 (Delhi – Trib.)

IN THE ITAT DELHI BENCH ‘A’
Vibhu Aggarwal


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