Weight of Diamond shall be Excluded to Determine Gross Weight of Jewellery Seized by Income Tax Dept: ITAT [Read Order]

Weight of Diamond - Weight of Diamond shall be Excluded to Determine Gross Weight - Gross Weight - Gross Weight of Jewellery - taxscan

The Surat Bench of Income Tax Appellate Tribunal (ITAT) has held that the weight of diamonds should be excluded to determine the gross weight of jewellery seized by the Income Tax Department. A search action under section 132 of the Income Tax Act was carried out on 08.06.2017 in the case of Balar Group of…

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