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2006 (6) TMI 77 - HC - Income TaxAddition made under section 69A of the Act on account of cash found during the course of search - expression 'income' as used in section 69A of the Act, has wide meaning which meant anything which came in or resulted in gain - Initially, the assessee denied possession of the cash but later on he admitted his possession in a statement recorded on oath. The statement was not retracted and, therefore, the Tribunal proceeded on the basis that the cash amount was under the control and in the possession of the assessee. - held that the assessee had not been able to rebut the statutory presumption under section 132(4A) of the Act and, therefore, the addition made under section 69A were justified
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