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TMI Blog2019 (1) TMI 1998X X X X Extracts X X X X X X X X Extracts X X X X ..... e source of funds for the purchase of gold jewellery to the tune of Rs.2 lakhs. Further, the CIT(A) discredited the statement of one N.S.R. Mohan, gold merchant, who admittedly had transactions with the family members of the assessee and it is his own statement that he had sold gold jewellery without bills. CIT (A) had analysed the entire factual matrix and found that the assessee had received Rs.2 lakhs from her sons. Further, the CIT(A) after considering the conduct of the said N.S.R. Mohan held that his statement cannot be relied. When the Department filed the appeal before the Tribunal, the Tribunal examined the matter and granted partial relief to the assessee to the extent of 50 gms as there were purchase bills produced by the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sbelieve the claim of the assessee. This is more so because admittedly N.S.R.Mohan had more than seven transactions with the family members of the assesssee and whenever he sold gold jewellery, it was without bills. Thus, for the above reasons, we find that the Tribunal erred in interfering with the order passed by the CIT (A). Appeal filed by the assessee is allowed. - Tax Case Appeal No. 240 of 2011 and M.P. No. 1 of 2011 - - - Dated:- 23-1-2019 - Honourable Mr. Justice T.S. Sivagnanam And Honourable Mr. Justice N. Sathish Kumar For the Appellant : Mr. T.N. Seetharaman. For the Respondent : Mrs. V. Pushpa Standing Counsel. JUDGMENT Delivered by T.S. Sivagnanam, J. This appeal is directed against the order pas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essment. Gold Jewellery said to have been found in the premises of the assessee and her sons and after thorough enquiry, the assessee was able to explain the source of the jewellery as well as her sons. However, in respect of 300 gms of gold jewellery, it appears that there was no purchase bills. This led to treating the said gold jewellery as unexplained gold jewellery. 5. The assessee carried the matter by way of appeal before the Commissioner of Income Tax (Appeals) II, Madurai. The CIT (A) had called for remand report and considered the factual matrix and held that the assessee has established the source of funds for the purchase of gold jewellery to the tune of Rs.2 lakhs. Further, the CIT(A) discredited the statement of one N.S.R. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ad sold jewellery without bills to the appellant and, therefore, it is natural that he would say that he did not sell any jewellery to the appellant. As there is source for purchase of jewellery, I direct the assessing officer to delete the addition on the value of __ grams gold jewellery. Thus, the entire addition of Rs.3,64.705/- on account of unexplained jewellery is deleted. 6. From the above finding, it is clear that the CIT (A) had analysed the entire factual matrix and found that the assessee had received Rs.2 lakhs from her sons. Further, the CIT(A) after considering the conduct of the said N.S.R. Mohan held that his statement cannot be relied. When the Department filed the appeal before the Tribunal, the Tribunal examined the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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