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2012 (8) TMI 149 - HC - Income TaxUnexplained cash and excess stock found during the search - reasons were assigned by the assessee showing that he was maintaining regular books of account and assessed to tax since long. Due to ill health – Held that:- Books of account were prepared were produced before the Assessing Officer during the course of assessment proceedings - Assessing Officer did not find any discrepancy in the books and, therefore, considering the extract of Section 158BA(3), it was clear that the transactions upto the date of search were recorded in the books on the basis of prime records, that is to say, other documents maintained in the normal course of business, and in such circumstances, there was no justification for treating the cash as unexplained if as per the books produced before the Assessing Officer the cash found tallied with the books
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