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2018 (8) TMI 1254 - ITAT INDOREAdditions u/s 68 - unexplained cash found in the suitcase while travelling in train - assumption and presumption - Held that:- The authorities have acted merely on suspicion. On the contrary, the father-in-law of the assessee has categorically owned up the money. The authorities below without appreciating the evidences submitted by the father-in-law of the assessee, proceeded to make addition and confirmed the same. The Ld. Counsel for the assessee has taken us through various documents demonstrating that wife of the assessee was in process of purchasing a property. It is also on record that father-in-law of the assessee was having sufficient money to give such gift to his daughter. - Additions so made deleted - Decided in favor of assessee.
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