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2023 (10) TMI 1018 - ITAT DELHIAddition u/s 69A - Unexplained cash seized in search & seizure operation - HELD THAT:- As regards the rejection of claim of cash from assessee’s proprietorship concern, we find that books have not been rejected. It has also not been proved that cash withdrawn is also put to any other use. In such circumstances, there is no reason to reject the source of cash in this regard. See KULWANT RAI. [2007 (2) TMI 185 - DELHI HIGH COURT]. Amount belonging to Narender Kumar Gupta and Sons HUF we note that 44AD return has been submitted which has been accepted. The income, therefore, therein has been accepted. There is no reason why the cash due of the income disclosed u/s 44AD should not be accepted. It is settled law that books of account & vouchers are not required in 44AD return. Hence, adverse inference cannot be taken that cash book & vouchers have not been maintained. The same income cannot be taxed twice once in the hands of HUF and once again in the hands of the assessee. We set aside the orders of the authorities below and decide the issue in favour of the assessee.
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