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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 · We therefore in the given facts and circumstances of the case are of the considered view that the impugned silver jewellery weighing 1812 gms valuing at Rs.75,278/-should not have been added to the income of the assessee and the benefit of the CBDT Circular No. 1916 dated 11.5.1994 should also be spread so as to cover the silver articles ...Estimated Reading Time: 5 mins
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. Further, from the documents seized as NTR-05, it can be found that, the Assessee in couple of years had purchased 282.58 grams ...Email: [email protected]
https://taxguru.in/income-tax/no-addition-jewellery-found-cbdt-circular-prescribed-limit.html
Jul 16, 2018 · The assessee has sought to explain the same by pointing out that the same is within the permissible limits stipulated by the CBDT circular dated 11.05.1994 (supra). Factually speaking, the assertion of the assessee that the jewellery found was within the limits prescribed by the CBDT by its circular is quite justified.Email: [email protected]
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 · The diamond jewellery included in the gross weight of the jewellery found from the persons seared if covered within the limit prescribed by above circular than no adverse view should be taken against Assessee. e Delhi ITAT in case of Kumkum Kanodia Versus DCIT vide ITA No: 5260/Del/2014 dated 20/11/2018 observed that merely because the ...Estimated Reading Time: 12 mins
https://abcaus.in/income-tax/cbdt-instruction-1916-quantity-jewellery-generally-held-family-members-hindu-family.html
Apr 08, 2021 · CBDT Instruction 1916 takes into account quantity of jewellery generally held by family members of a Hindu Family. CBDT Circular though meant for non-seizure of jewellery takes into account quantity of jewellery generally held by family members of a Hindu Family. In the instant case, the assessee had challenged the order passed by the CIT (A ...
https://taxguru.in/income-tax/analysis-cbdt-instruction-seizure-jewellery.html
Dec 06, 2016 · A deep dive into the CBDT Instruction No. 1916 dated 11th May, 1994 in the matter of seizure of jewellery. Since the time the Narendra Modi government announced the demonetisation of Rs 500 and Rs 1,000 notes on 8 November, the fire of rumors started spreading all around in the matter of seizure of Jewellery held by the people.. With an intention to quell apprehensions, the government …Email: [email protected]
https://taxguru.in/income-tax/cbdt-circular-lays-down-guidelines-seizure-jewellery-ornaments.html
CIT Vs Ratanlal Vyaparilal Jain (Gujarat High Court) Though it is true that the CBDT circular No.1916 dated 11.5.1994 lays down guidelines for seizure of jewellery and ornaments in the course of search, the same takes into account the quantity of jewellery which would generally be held by family members of an assessee belonging to an ordinary Hindu household.Email: [email protected]
https://taxguru.in/income-tax/cbdt-instructions-on-seizure-of-jewellery-and-ornaments-are-discretionary.html
Apr 09, 2018 · Shri Keshav Lila Vs. ACIT (ITAT Indore) CBDT instructions which in our view provides a guideline to the search conducting team that no seizure should be made of the jewellery and ornaments found during the course of search proceedings u/s 132 of the Act, if the same have been duly declared in the wealth tax returns filed by the tax payer or where such ornaments are within the prescribed limits ...Email: [email protected]
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