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2024 (2) TMI 1110 - ITAT DELHIUnexplained money - proof of source cash deposited in bank account - proof of cash on hand - HELD THAT:- From CIT(A)'s order it is clear that the assessee’s claim regarding cash in hand was rejected but without giving any reason for the same. If the assessee’s contention is that it had turnover exceeding the limit u/s 44AD, the learned CIT(A) ought to have taken action in accordance with law. However, he merely sustained the addition made by the AO. Therefore, the claim of the assessee regarding business transaction in cash is not adverted by the lower authorities by giving a clear finding. Therefore assessee having cash in hand cannot be rejected. The impugned addition is hereby deleted. Grounds raised by the assessee are allowed.
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