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2021 (2) TMI 218 - AT - Income TaxAddition u/s 69A - Seizure of cash in search - whether source of cash found and seized from the possession of the two persons which belongs to the assessee? - HELD THAT:- We find force in the contentions so advanced by the ld. AR. The cash so seized admittedly belongs to the assessee and through return of income, the statement of affairs, cash flow statement for the previous year and cash book for the year under consideration, the source of cash so seized has been duly explained in form of sales and opening cash balance duly recorded in the books of accounts. We therefore, find that there is no basis for making the impugned addition in the hands of the assessee and the same is hereby directed to be deleted. - Decided in favour of assessee.
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