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2020 (2) TMI 562 - AT - Income TaxAddition on the basis of the material seized during the course of the search - HELD THAT:- We find that assessee has partly accepted the entries in the documents seized, which confirm that the documents were related to the assessee , but the assessee has failed to explain the balance entries reflected in those documents, and therefore, lower authorities are justified in sustaining the addition in dispute. As the assessee could explain part of the transaction recorded in seized material and the balance sale could not be reconciled by the assessee, and therefore in our opinion, the lower authorities are justified in sustaining the addition. Accordingly, the grounds of appeal of the assessee are dismissed.
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