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https://taxguru.in/income-tax/explained-jewellery-form-part-jewellery-allowed-cbdt-circular.html
Jan 09, 2021 · As per the CBDT circular, the eligibility of gold and jewellery owned by them are of 1550.00 grams. The sister-in-law of the Assessee has kept 100.00 grams of jewellery in her bank locker as she had no locker account.
https://thetaxtalk.com/2018/10/26/cbdt-circular-no-1916-dated-11-5-1994-jewellery-holding-limit-should-also-be-spread-so-as-to-cover-the-silver-articles/
Oct 26, 2018 · Aggrieved assessee preferred appeal before Ld.CIT(A) and partly succeeded as the Ld.CIT(A) following the instructions of Central Board of Direct Taxes (CBDT) bearing No.1916 dated 11.05.1994 allowed the claim of gold jewellery weighing 242 grams. However addition for Rs.75,278/- on unaccounted investment in silver articles was confirmed.Estimated Reading Time: 5 mins
https://taxguru.in/income-tax/analysis-cbdt-instruction-seizure-jewellery.html
Dec 06, 2016 · S Dave 117 Taxman 23 referred supra wherein it has been explicitly held that though board circular is a guideline for not effecting seizure during the course of search, extended meaning of same shows the intention that the jewellery to the extent mentioned in such circular should be treated as explained jewellery and gold found to that extent for family members cannot be treated as …
https://itatonline.org/articles_new/implications-of-jewellery-found-during-the-course-of-search-u-s-132-of-the-income-tax-act-1961/
Jun 11, 2020 · CIT, Central Circle-II, CHANDIGARH 2020 (1) TMI 982 has held that no addition is called for when total gold jewellery available with the Assessee as shown in the Wealth Tax Return and obtained on maturity of Gold Bond Scheme which is more than the gold Jewellery weighing found during the course of search.Estimated Reading Time: 12 mins
https://taxguru.in/income-tax/no-addition-jewellery-found-cbdt-circular-prescribed-limit.html
Jul 16, 2018 · In fact the CBDT circular dated 11.05.1994 (supra) specifically contains para (ii), which prescribes that in the case of wealth tax assessees gold jewellery and ornaments found in excess of the gross weight declared in the wealth tax returns only need to …
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