9911796707
TMI Blog2003 (7) TMI 285X X X X Extracts X X X X X X X X Extracts X X X X ..... aid amounts were paid out of the withdrawals for household expenses for family members. 2. The facts in brief are that search and seizure under s. 132 was conducted at the premises of the assessee, a jeweller, during 11th Aug., 1998 to 13th Aug., 1998 and gold ornaments weighing 3,851 grams, silver utensils weighing 22.448 kgs. were found. The assessee explained the same during the course of assessment proceeding but the AO accepted only 2,980 grams of gold ornaments and 13 kgs. of silver as explained and made addition on the remaining as undisclosed. The learned CIT(A) has upheld the same against which the assessee is in appeal vide aforesaid grounds. 3. Ground No. 1: In support of this ground the learned authorised representative subm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ily. In case of two ladies the excess of 500 grams ornaments is marginal i.e., only 41 grams and 3 grams. He cites the decision of the Tribunal in the case of Asstt. CIT vs. Anita Milind (2002) 30 ITC 505. The lower authorities have ignored the affidavits of Smt. Tarabai W/o late Shri Kanakmalji Kothari (mother of Smt. Sushmakumari) and of Shri Mitthulal S/o Fatehlal Maru (father of Smt. Latakumari) confirming the claim of two ladies without any sufficient reason. The learned authorised representative submits further that nothing incriminating nor the ornaments were found from the possession of Shri Anandilal and marriages of these two ladies were performed in June, 1981 and June, 1987, therefore, it cannot be said that the ornaments given ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s in view. The affidavits furnished by the parents of the two ladies explaining therein about the gold found from their possession unless rebutted cannot be disbelieved. It is customary to gift ornaments to the children on festive occasions in Hindus families of status. Besides these no document had been found during the search indicating the recent acquisition of these gold ornaments by the assessee nor the AO has specified as to for which year addition in respect of gold ornaments has been made. We thus delete the addition made in this regard while allowing ground No. 1 in favour of the assessee. 5. Ground No. 2: It is related to the addition of Rs. 76,405 in respect of silver utensils weighing 9.448 kg. out of 22.448 kg. found at resid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... family friends of the assessee in their affidavits. These affidavits have been further got verified by the AO through the Inspector, who had recorded their statements. We thus considering the totality of the facts and circumstances of the case on the issue discussed above restrict the addition at Rs. 15,000. Ground No. 2 is thus partly allowed. 6. Ground No. 3: The AO made additions of Rs. 10,008 and Rs. 4,540 respectively, being donation to Jain Diwakar Hospital and expenses on cloth/garments denying the explanation of the assessee that the said amounts were paid out of the withdrawals for household expenses of family members. In support of this ground the learned authorised representative submits that the AO has accepted that the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
