No explanation is needed from assessee if gold found during search was below 500 grams per married woman : ITAT

INCOME TAX : Where gold seized during search proceeding was below limit prescribed by CBDT in Instruction No. 1916, dated 11-5-1994, department ought not to have seized such gold and addition under section 69A made in hands of assessee treating said gold as unexplained was to be deletedINCOME TAX : Where gold seized during search proceeding was below limit prescribed by CBDT in Instruction No. 1916, dated 11-5-1994, department ought not to have seized such gold and addition under section 69A made in hands of assessee treating said gold as unexplained was to be deletedwww.taxmann.com Latest Case LawsRead More

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