{"id":63989,"date":"2026-08-21T16:14:09","date_gmt":"2026-08-21T10:44:09","guid":{"rendered":"https:\/\/itatonline.org\/digest\/nirmal-kumar-agrawal-v-acit-nagpur-trib-www-itatonline-org\/"},"modified":"2026-08-21T16:14:09","modified_gmt":"2026-08-21T10:44:09","slug":"nirmal-kumar-agrawal-v-acit-nagpur-trib-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/nirmal-kumar-agrawal-v-acit-nagpur-trib-www-itatonline-org\/","title":{"rendered":"Nirmal Kumar Agrawal v. ACIT( Nagpur ) ( Trib) www. Itatonline.org"},"content":{"rendered":"<div>\n<p>During search proceedings, jewellery weighing 2,434 gms was found at the assessee\u2019s premises. The CIT(A) sustained an addition of Rs.3,86,186\/- in respect of four items of jewellery. The Tribunal noted that two items weighing 55.8 gms were claimed by the assessee\u2019s wife and were received by her from her parents on the birth of her two daughters. Since ownership was identifiable and the jewellery belonged to the wife, the addition could not be made in the hands of the assessee merely because the jewellery was found at the common residence. As regards the remaining jewellery, 72.6 gms was duly recorded in the assessee\u2019s books and acquired through banking channels, while the balance 48.9 gms was within the 100 gms limit prescribed under CBDT Instruction No. 1916 dt.11 -5 -1994 . \u00a0Considering the assessee\u2019s age, social status, occupation, family background and customary gifts received on various occasions, the Tribunal held the possession of 48.9 gms to be reasonable. It further held that diamond and precious-stone-studded jewellery cannot be excluded from the benefit of CBDT Instruction No. 1916 merely because it contains diamonds or precious stones. Accordingly, the entire addition of Rs.3,86,186\/- was deleted. Search conducted on 26-07-2016 , Amendment by Taxation Laws (Second Amendment) Act, 2016 hence the \u00a0enhanced rate of 60%\u00a0 is applicable prospectively \u00a0and not applicable where search was conducted prior to 15-12-2016\u00a0 (AY. 2017 -18 <strong>( ITA No. 530\/NAG\/2025, Dt. 10-08-2026.) <\/strong><b><\/b><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>S. 69: Unexplained investments &#8211;  Unexplained jewellery- Search \u2013 Considering the assessee\u2019s age, social status, occupation, family background and customary gifts received on various occasions, the Tribunal held the possession of 48.9 gms to be reasonable. Diamond and precious-stone-studded jewellery cannot be excluded from the benefit of CBDT Instruction No. 1916 merely because it contains diamonds or precious stones. Accordingly, the entire addition of Rs.3,86,186\/- was deleted \u2013 Enhanced rate of 60% \u2013 Search conducted on 26-07-2016 \u2013 Amendment by Taxation Laws (Second Amendment) Act, 2016 \u2013 Enhanced rate applicable prospectively \u2013 Not applicable where search was conducted prior to 15-12-2016. [ S. 69A , 115BBE , 132 ]  <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-63989","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gE5","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=63989"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63989\/revisions"}],"predecessor-version":[{"id":63990,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63989\/revisions\/63990"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=63989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=63989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=63989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}