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2024 (2) TMI 886 - ITAT DELHIUnexplained money u/s 69A r.w.s. 115BBE - Cash seized in search - HELD THAT:- As cash has been transferred prior to the date of search on 29.05.2018, the same was only recorded with a delay of 4 days in the books of respective branches. Either way, the company as a whole did have sufficient cash balance to explain the seized cash of Rs. 13 lakhs on 29.05.2018. We find that there was no negative cash balance on any given day during the year. Admittedly, the cash book submitted by the assessee has not been rejected by the revenue. Hence, there is absolutely no case for the revenue to treat the cash seized as unexplained money warranting addition u/s 69A of the Act. accordingly, the grounds raised by the assessee are allowed.
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