No Addition on Unaccounted Income on Inclusion of Sale of Jewellery as LTCG in ROI: ITAT quashes Assessment Order and Penalty [Read Order]

No Addition on Unaccounted Income - No Addition - Unaccounted Income - Income - Inclusion of Sale of Jewellery - LTCG - ROI - ITAT quashes Assessment Order and Penalty - taxscan

The Delhi bench of Income tax appellate tribunal (ITAT) quashed the assessment order and penalty which was passed by Deputy Commissioner of Income Tax (DCIT) and held that No addition could be made on unaccounted income since the assesse already included sale of jewellery as Long term capital gain in return of Investment. Smt. Nirmal…

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