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TMI Blog2003 (1) TMI 226X X X X Extracts X X X X X X X X Extracts X X X X ..... rnaments weighing 502.800 gms valued at Rs. 1,75,818 were seized. During the course of assessment proceedings, AO asked the assessee to furnish his explanation about the acquisition and possession of the ornaments. The assessee stated that total gold ornaments weighing 1,048.800 gms were found and same belong to different family members who have also filed their returns of wealth showing the following gold ornaments as under: Name Gold ornaments shown Gold ornaments found Jigar V. Sheta 46.500 gms 46.500 gms Veljibhai M. Sheta 13.000 gms 13.000 gms Shown inclusive of Jigar 54.500 gms 59.500 gms Pushpaben V. Sheta (on body) 331.400 gms 462.100 gm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e that the remaining gold ornaments were kept by my grandfather with his daughter-in-law, Champaben Mohanbhai Sheta. It is advantageous to bring to your kind notice that my father Mohanbhai Bhimbhai Sheta and my mother Champaben Mohanbhai Sheta was not present at the time of raid proceedings as they were at out village viz. Ratanvav, taluka Botad of Bhavnagar District to see my grandfather viz., Shri Bhimbhai R. Sheta. Accordingly, my mother Smt. Champaben Sheta took away the remaining gold ornaments of Bhimbhai R. Sheta with her along with her own gold ornaments. Shri Bhimbhai R. Sheta died on 16th June, 1995, who was filing his WT return and had also made his will on 1st Nov., 1991. The copy of his will is enclosed herewith from which you ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat contention of the assessee that his grandfather Shri Bhimbhai Sheta was having 362.750 gms. and was desirous to give these ornaments to his two grandsons and their mother and that he had actually given some ornaments to them is only a fabricated story and nothing else. For this reason, the AO stated that the alleged will of Shri Bhimji Ravi Sheta is produced before the Departmental authorities only after the search was conducted in this case. Prior to the date of search, it was never produced before any authority and, therefore, no credence can be attached to the same. The AO further observed that during the course of search assessee has stated that ornaments belonging to assessee, his family and his brother's family were lying in the h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... regarding will, etc. was asked during the course of statement recorded under s. 132(4) and the will was in the knowledge of wife of the assessee who was not questioned by search party during the course of search. There is no material on record or no evidence found to prove that gifts received are not genuine. He submitted that addition of Rs. 82,500 has been made by AO on doubt and suspicion. Therefore, same be deleted. 4. The learned Departmental Representative appearing for the Revenue supported the orders of authorities below. He submitted that keeping in view the jewellery declared by various members of the family, the AO has considered jewellery to the extent of 850 gms. as explained which is fair and reasonable. The remaining jewel ..... X X X X Extracts X X X X X X X X Extracts X X X X
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