TMI Blog2006 (6) TMI 77X X X X Extracts X X X X X X X X Extracts X X X X ..... section 132(4A) of the Act and, therefore, the addition made under section 69A were justified - - - - - Dated:- 2-6-2006 - Judge(s) : MADAN B. LOKUR, VIPIN SANGH. JUDGMENT The judgment of the court was delivered by Madan B. Lokur J.-In this appeal under section 260A of the Income-tax Act, 1961 ("the Act"), the appellant is aggrieved by an order dated January 27, 2006, passed by the Income-tax Appellate Tribunal. There is only one issue urged by learned counsel for the appellant and that is with regard to the addition made under section 69A of the Act on account of cash found during the course of search. It appears that the residential premises of the assessee in New Delhi and Mandi (Himachal Pradesh) were searched and during tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee but despite this, he made no efforts to substantiate his explanation in any manner whatsoever. The Tribunal has noted that the books of account of the Congress (I) party were also verified but these also did not show any connection with the cash recovered from the assessee. On these broad facts, it was held that the assessee had not been able to rebut the statutory presumption under section 132(4A) of the Act and, therefore, the addition was made under section 69A of the Act. In this appeal before us, it is not possible to reappreciate the evidence, particularly when the assessee has not been able to show any perversity in the order passed by the Tribunal. The issue having been decided purely on the facts, we are of the view that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ound as its owner." In CIT v. K.T.M.S. Mohamood [1997] 228 ITR 113 (Mad), some currency was recovered from the premises of the assessee. On the question of onus regarding ownership, the Madras High Court held as follows: "In order to make the assessment under section 69A of the Act for undisclosed income, the assessee must not only be a person, who is in possession of the undisclosed income, but he should also be the owner of the same. The assessee himself has admitted that he is in possession of Rs. 4,28,713. The point for consideration is whether the Department has established that the assessee is also the owner of Rs. 4,28,713. In a matter like this, under the provisions of section 110 of the Evidence Act, the onus is on the person, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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