Mudita Chaturvedi Vs. ACIT
Case No: ITA No.601/Del/2023
Court: INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH ‘E’, NEW DELHI
Date: 1/10/2024
Parties Involved
appellantMudita Chaturvedi
respondentACIT
Facts Summary
A search and seizure operation under section 132 of the Act was conducted by the Investigation Wing on 12.07.2018 in Rohit Tiwari Group of cases. The locker of the assessee at New Delhi Vaults Limited was also covered, and jewellery weighing 719.916 grams amounting to Rs.27,34,231/- was found. The assessee was asked to explain the source of the jewellery and to show cause as to why it should not be taxed as unexplained investment under section 69 of the Act. The assessee filed a detailed reply c…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the addition of Rs.635025/- u/s. 69 r.w.s. 115BBE of the Act is justified.
Precedents Relied Upon
1 precedent cited in this judgement.