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2016 (5) TMI 346 - ITAT JAIPURAddition of cash found at the time of search - Held that:- The Assessing Officer of Smt. Lalita Devi has scrutinized the cash availability U/s 143(3) of the Act and same cash has been accepted by the Assessing Officer. Further it is also undisputed fact that the husband of Smt. Lalita Devi Late Vallav Das Parwal was running a shop of wholesale of Ghee and oil etc. in the name of Maheshwari Store, Chandpole Bazar, Jaipur, who had expired on 19/08/2007. There was a cash balance as per cash book. Finally, the proprietory concern has closed on 15/9/2007, therefore, there is reasonable explanation with the assessee that he has received two lacs from his mother on different dates. Therefore, the addition confirmed by the ld CIT(A) is deleted. The finding on levy of interest U/s 234(c) of the Act is consequential to the above finding. - Decided in favour of assessee
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