Arushi Suri Vs. Assessment Officer, Assessment Unit J-2, Lajpat Nagar-III, New Delhi
Case No: ITA No.2443/Del/2025
Court: Income Tax Appellate Tribunal, Delhi Benches ‘A’
Date: 1/21/2026
Parties Involved
appellantArushi Suri
respondentAssessment Officer, Assessment Unit J-2, Lajpat Nagar-III, New Delhi
Facts Summary
The assessee, Arushi Suri, is an individual who draws a salary from M/s Chunmun Stores Pvt. Ltd., New Delhi, and also earns interest income from Fixed Deposit Receipts (FDRs) and a Savings Bank account. She declared a total income of Rs. 95,95,890/- for the assessment year 2022-23. The case was selected for scrutiny to verify investments in time deposits. During the assessment proceedings, the Assessing Officer (AO) observed that the assessee had reported jewellery and bullion worth Rs. 1,09,84,…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Learned Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre (NFAC), Delhi, erred in confirming part of the addition despite complete evidence having been filed by the assessee.
- 2. Whether the Learned Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre (NFAC), Delhi, erred in charging a higher rate of gold while valuing the jewellery.
Precedents Relied Upon
3 precedents cited in this judgement.