The assessee is in the business of Gold Jewellery-During search conducted at premises of one Shri Suresh Kumar it was found that a consignor, one Parva Kundan & Diamonds Pvt. Ltd. dispatched a package containing gold jewellery weighing 524.500 gms which was to be received by assessee as consignee.  Said gold jewellery was seized. The Assessing Officer initiated proceedings under section 153C and made additions in assessee’s income for seized value of gold jewellary by treating same as unaccounted investment.On writ against the said order the Court held that the  assessee purchased said gold from Parva Kundan & Diamonds Pvt Ltd  for which payment was made through banking channels and purchases were duly accounted for in books of account of assessee. Accordingly said purchases could not be termed as unaccounted investments and seized gold jewellery was directed to be released in favour of assessee. (AY. 2018-19)