Case Law Analysis
|Income Tax Appellate Tribunal
Section 69 IT Act | Affidavit Proof of Ownership by Married Daughter Living Abroad Overrides CBDT Presumptive Limits : ITAT Delhi
ITAT Delhi rules that gold jewellery owned by a married daughter residing abroad, supported by an affidavit, cannot be treated as unexplained income under Section 69 merely on presumptive grounds. The ruling emphasizes that CBDT guidelines on permissible jewellery limits do not override documented ownership, reinforcing natural justice in tax assessments.