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2016 (7) TMI 1184

Addition in the hands of assessee’s husband on protective basis - cash available on the date of search - Held that:- The authorities below have failed to apply their mind and appreciate the evidence available with it. Paragraph No. 2 of 4.3 of CIT(A)’s order clearly points out that there is a hard disk and hard disk was found during the course of search and on the basis of hard disk, the brought forward cash of ₹ 50,88,408/- was available on 11/11/2009. If the cash of ₹ 50,88,408/- was available on the date of search, than the wisdom of the assessee to keep the cash either at residence or in the locker cannot be doubted . The revenue authority cannot challenge the wisdom of keeping the cash either at residence or at the locker and therefore, the explanation given by the assessee during the course of search and further supported by the hard disk on the basis of which the cash book was prepared, which is an admitted piece of evidence, completely negate the case of the revenue. We have no doubt that the addition made by the authorities below were without any jurisdiction and were not in accordance with law and the facts and circumstances of the case. Accordingly, the addition in the hands of the assessee is deleted.

Also the addition made in the hands of assessee Smt. Santosh Ahluwalia being cash found in the locker, in our opinion is also required to be deleted - Decided in favour of assessee.


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