Excess Jewellery Beyond Specified WTR cannot be Treated as Stridhan to Claim Benefits under CBDT Circular: ITAT [Read Order]

Excess Jewellery Beyond Specified - WTR cannot be Treated as Stridhan to Claim Benefits under CBDT Circular - ITAT - TAXSCAN

The Income Tax Appellate Tribunal (ITAT) in Delhi ruled that if there is additional jewelry beyond what was accounted for in the wealth tax assessment, the taxpayer must provide a more detailed explanation in their Wealth Tax Returns (WTR) to meet the requirements of Section 69B of the Income Tax Act, 1961. The tribunal stated…

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