Income Tax Department Raid at Tobacco Bigwig’s Residence: Seizes Cash, Luxury Watches and Jewellery Worth more than 7 Crores
The Income Tax Department has intensified its crackdown on suspected tax evasion, conducting raids at multiple locations associated with Bansidhar...
![Excess Jewellery found during Search in Wealthy Family belonged to Married Woman is Reasonable: ITAT Deletes Addition u/s 69A of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Excess-Jewellery-found-during-Search-in-Wealthy-Family-Married-Woman-is-Reasonable-ITAT-Deletes-Addition-Income-Tax-Act-TAXSCAN.jpg "Excess Jewellery found during Search in Wealthy Family belonged to Married Woman is Reasonable: ITAT Deletes Addition u/s 69A of Income Tax Act [Read Order]")
CBIC Designates Khajod Village, Gujarat, as Hub for Importing and Exporting Precious and Semi-Precious Goods [Read Notification]
The Central Board of Indirect Taxes and Customs (CBIC) vide notification no. 74/2023-Customs (N.T.) G.S.R. 726(E) issued on 9th October 2023 has notified the designation of Khajod Village of Gujarat...
![Jewellery Gifted on Occasion of Marriage before Search Action: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Jewellery-Gifted-Occasion-of-Marriage-Marriage-Search-Action-ITAT-deletes-addition-Addition-ITAT-Taxscan.jpg "Jewellery Gifted on Occasion of Marriage before Search Action: ITAT deletes Addition [Read Order]")
Excess Jewellery Beyond Specified WTR cannot be Treated as Stridhan to Claim Benefits under CBDT Circular: ITAT [Read Order]
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...
![Excess Jewellery Beyond Specified WTR cannot be Treated as Stridhan to Claim Benefits under CBDT Circular: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Excess-Jewellery-Beyond-Specified-WTR-cannot-be-Treated-as-Stridhan-to-Claim-Benefits-under-CBDT-Circular-ITAT-TAXSCAN.jpg "Excess Jewellery Beyond Specified WTR cannot be Treated as Stridhan to Claim Benefits under CBDT Circular: ITAT [Read Order]")
Jewellery Collected by Woman in a Married Life of 25-30 Years is Not Abnormal Act: ITAT deletes Addition on Unexplained Gold[Read Order]
The Income Tax Appellate Tribunal (ITAT) of Delhi bench directed the Assessing Officer (AO) to delete the addition since collecting jewellery by a woman in a married life of 25-30 years is not an...
![Jewellery Collected by Woman in a Married Life of 25-30 Years is Not Abnormal Act: ITAT deletes Addition on Unexplained Gold[Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Jewellery-Collected-by-Woman-Jewellery-Abnormal-Act-ITAT-deletes-Addition-on-Unexplained-ITAT-Addition-on-Unexplained-Jewellery-Collected-by-Woman-in-25-30-Years-is-Not-Abnormal-Act-taxscan.jpg "Jewellery Collected by Woman in a Married Life of 25-30 Years is Not Abnormal Act: ITAT deletes Addition on Unexplained Gold[Read Order]")
No Addition on Unaccounted Income on Inclusion of Sale of Jewellery as LTCG in ROI: ITAT quashes Assessment Order and Penalty [Read Order]
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...
![No Addition on Unaccounted Income on Inclusion of Sale of Jewellery as LTCG in ROI: ITAT quashes Assessment Order and Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/No-Addition-on-Unaccounted-Income-No-Addition-Unaccounted-Income-Income-Inclusion-of-Sale-of-Jewellery-LTCG-ROI-ITAT-quashes-Assessment-Order-and-Penalty-taxscan.jpg "No Addition on Unaccounted Income on Inclusion of Sale of Jewellery as LTCG in ROI: ITAT quashes Assessment Order and Penalty [Read Order]")
Non-completion of Assessment as per ITAT Order within Time: Bombay HC directs Refund of Income Tax Paid and Seized Jewellery [Read Order]
The Bombay High Court has recently quashed and set aside the impugned assessment order passed by the revenue authority as per the Income Tax Appellate Tribunal, being delayed for more than 9 months...
![Non-completion of Assessment as per ITAT Order within Time: Bombay HC directs Refund of Income Tax Paid and Seized Jewellery [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/ITAT-Bombay-HC-refund-of-Income-Tax-Jewellery-TAXSCAN.jpg "Non-completion of Assessment as per ITAT Order within Time: Bombay HC directs Refund of Income Tax Paid and Seized Jewellery [Read Order]")