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2012 (11) TMI 316 - ITAT, AHMEDABADUnaccounted and unexplained cash - search - CIT(A) deleted the addition - Held that:- A.O. has only relied on the statement of Shri Damodarbhai Patel to make the addition in the hands of the assessee. The A.O. has not brought any material on record to prove that cash seized belonged to assessee. Shri Damodarbhai has in the statement stated that the cash belonged to Vanita Park project & on the basis of assessment records produced it is seen that Vanita Park project is developed by Mahavir Developers whose proprietor is Shri Mohanbhai Patel. Further the income from Vanita Park project is assessed in the hands of Shri Mohanbhai Patel. The D.R. could not controvert these facts or could controvert the findings of CIT (A) by bringing any material to the contrary on record - in favour of assessee.
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