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2023 (3) TMI 1233 - AT - Income TaxUnexplained cash u/s 69A - addition of entire cash found during the course of search & seizure in the office premises of the assessee - addition basically only on the basis of statement of Accountant of the assessee company recorded wherein he was unable to explain the discrepancy - submission of the assessee that an amount was kept by wife of the Director in the office premises out of the amount withdrawn by her from LLP where she is a partner - whether the Director of the assessee company was asked any question on this issue on the date of search or thereafter? HELD THAT:- The statement of the Director who was privy to such cash kept by his wife has a bearing on this vital issue. It is not known as to whether the Director was examined on the issue of cash kept by his wife which she has withdrawn from the partnership firm. Therefore, we deem it proper to restore the issue to the file of the Assessing Officer with a direction to verify the statement of Director of the assessee company recorded u/s 132(4), if any, and if he has stated during the course of search or thereafter that the cash was kept by his wife in the company, then the same is directed to be deleted. Grounds raised by the assessee are partly allowed for statistical purposes.
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