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2023 (8) TMI 496 - ITAT HYDERABADAddition u/s 69A - assessee could not explain the source of cash seized from the residence of the assessee - HELD THAT:- Availability of cash in our opinion, cannot be doubted. Even if the assessee has not filed the cash book, however, the circumstantial evidence cannot be simply brushed aside especially when the assessee is having taxable income We are of the considered opinion that the availability of cash should not have been doubted as unexplained. It is also pertinent to mention here that when the search took place on the date of Diwali at the residence of the assessee, it is unbelievable that the assessee cannot have a single rupee since the lower authorities have not even given credit of a single rupee. In this view of the matter, we set aside the order of the CIT (A) and direct the AO to delete the addition. Decided in favour of assessee.
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