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2017 (3) TMI 381 - ITAT INDOREAddition for the cash found in search - unexplained cash - Held that:- We find that the assessee submitted a statement of availability of agricultural income at ₹ 1,28,191/- ( 4,40,016- 3,11,825) prepared after date of search i.e. 13.11.2007, by recording certain entries remained to be recorded after September 2007. However, this cannot be relied as no evidence of un-recorded entries was found during search. In view of this matter, were are of the considered view that cash of ₹ 1,25,000/- can be treated as explained out of seized cash of ₹ 2 lacs. Accordingly, the addition to that extent of ₹ 1,25,000/- is deleted and balance addition of ₹ 75,000/- is confirmed. Thus, the ground No. 1 and 2 of appeal is partly allowed in favour of the assessee.
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