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The Economic Times
The Economic Times
Business
Neelanjit Das

Income Tax Dept seized gold, diamonds and silver in a tax search operation from lady’s house and bank locker; she wins case in ITAT Mumbai

Mrs Kelkar who has been married for 35 years and lives with her husband in Vashi, Navi Mumbai got entangled in a tax dispute case where she had to fight in ITAT Mumbai to get back her seized jewellery items. To tell you more about how this dispute started, on August 12, 2019, she filed an income tax return (ITR) declaring Rs 1.34 lakh income, but about a year earlier, the Income Tax Department while searching a company's offices got to know some information about Mrs Kelkar.

The Income Tax Department suspected that Mrs Kelkar might have several high-value gold, diamond, and silver jewellery items. Thus on this suspicion, the Income Tax Department sent her multiple tax notices and then searched her house and bank lockers maintained with Saraswat Sahakari Bank also. During the search at her residence, the Income Tax officers found:

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