LatestIncome Tax 6 October 2026
Tax Dept Adds Rs 67.4 Lakh After Woman Declares Ancestral Jewellery
Anjani Ashok Parikh declared Rs 67.4 lakh of ancestral jewellery in her 2021‑22 income‑tax return. The Mumbai tax office added the same amount to her demand, and the tribunal upheld the addition on September 1, 2026. The court also rejected her claim for a Rs 12 lakh brokerage deduction, citing insufficient proof. The decision underscores tighter scrutiny of high‑value asset disclosures in Indian tax filings.
Key points
- Anjani Ashok Parikh listed Rs 67.4 lakh of ancestral jewellery in her ITR for AY 2021‑22.
- Mumbai Income Tax Office issued a demand adding the same amount; the tribunal upheld the addition on 1 Sept 2026.
- Her claim for a Rs 12 lakh brokerage deduction was rejected due to lack of documentation.
For full details, see the Times of India article.
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