Jewellery Seizure by Tax Department : High Court Highlights the Legal Principles
In a case where gold and jewellery was seized by Income Tax Department, dismissing the petition it was held that second proviso to Section 132B(1) (i) of the Income-tax Act, 1961 would only get attracted after the AO has determined the liability and has come to the conclusion that the nature and source of acquisition has been explained by the person concerned.
Rajesh Gupta v. ACIT [2025] GCtR 1900 (Delhi)
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