{"id":36701,"date":"2023-09-05T15:26:36","date_gmt":"2023-09-05T09:56:36","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=36701"},"modified":"2023-09-06T06:16:59","modified_gmt":"2023-09-06T00:46:59","slug":"explanation-for-jewellery-found-and-seized","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/explanation-for-jewellery-found-and-seized\/","title":{"rendered":"Explanation for jewellery found and seized"},"content":{"rendered":"<p>During the course of search jewellery weighing 5646.800 gms was found which was of Gold and also some dimonds.\u00a0 Family of assessee consist of 18 members which includes 10 married ladies , 5 individual, 3 unmarried daughter and one adult son. Assessee submitted that considering CBDT circular about seizing of jewellery, no jewellery is to be seized , however still Investigating Officer has seized 1646 gms on the ground that all the family members are though living in same building but are having separate kitchen hence all jewellery could be considered as explained. During assesssment proceedings have once again asked the explosion and source of entire jewellery found,\u00a0 will bills and matching of item to item with jewellery found as well as seized and show cause as to why entire jewellery should not be considered as unexplained and\u00a0 added u\/Sec 68\/69A of the Act.<\/p>\n<p>Is action of AO is correct? What reply assessee can give, considering CBDT Cir and as none of the assessee has filed return under wealth tax act.<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[1021],"qa_category":[23],"qa_tag":[1045,1044,202],"class_list":["post-36701","qa","type-qa","status-publish","hentry","qa_expert-ksa-legal-chambers","qa_category-income-tax","qa_tag-family-members","qa_tag-jewelllery","qa_tag-search-assessment"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/36701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=36701"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=36701"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=36701"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=36701"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=36701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}