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Any jewellery, found in possession of a married lady to the extent of 500 gms., 250 gms. per unmarried lady and 100 gms per male member of the family will not be questioned about its source and acquisition.

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Sec. 153A of Income Tax Act, 1961 - Assessment - Any jewellery, found in possession of a married lady to the extent of 500 gms., 250 gms. per unmarried lady and 100 gms per male member of the family will not be questioned about its source and acquisition. Therefore, jewellery found in possession to that extent could not be treated as undisclosed investment. Unless the Revenue shows anything to the contrary, it can safely be presumed that the source to the extent of the jewellery stated in the circular stands explained.—N. ROJA vs. Asstt. CIT.[2020] 26 ITCD Online 018 (ITAT-CUTTACK)