No Wrong in Jewellery kept in Maternal Family by Married Daughter: ITAT deletes Addition [Read Order]

The bench emphasised principles of natural justice and directed the Assessing Officer (AO) to reconsider the assessee's case
By Ashkar Tovarishch - On July 17, 2024 5:02 pm - 2 mins read
ITAT - Income Tax Addition - ITAT Delhi - Income Tax - Jewellery Income Tax - Jewellery in Maternal Family - Taxscan

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) found no wrongdoing in jewellery being kept in the maternal family by a married daughter, leading to the deletion of the related addition. The appellant, Prem Prakash Sethi, challenged the order of the Commissioner of Income Tax (Appeals), New Delhi, which upheld the assessment order under…

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