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TMI Blog2020 (1) TMI 51X X X X Extracts X X X X X X X X Extracts X X X X ..... facts in allowing part relief to the extent of Rs. 1 lakhs out of total adtional made by the Assessing Officer of Rs. 4,50,000/-u/s 69A of the Act on account of cash found during the search. 1.1 That in any case and in any view of the matter, action of the ld. CIT(A) in confirming the action of the Assessing Officer in making addition of Rs. 3,50,000/- is bad in law and against the facts and circumstances of the case. " 3. Briefly stated, the facts of the case are that search was conducted at the residential as well as business premises of M/s SRS Group on 09.05.2012. At the time of search operation, an amount of Rs. 16.01 lakhs was found from the residential premises of the assessee. The authorised officer put specific question and the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Source of Cash Amount Dated Supporting 1 Anil Jindal 175.966 Bank With drawal 200,000 20.04.12 Copy of Cash Statement/Bank Statement 2 Sunil Jindal 76.953 Bank With drawal 100.000 20.04.12 Copy of Cash Statement-' Bank Statement 3. Vmod Jindal 93533 Bank With drawal ...................... 100000 L ... ..... 20.04 12 Copy of Cash Statement/Bank Statement 4. G.S Jindal 176069 Bank With drawal 1,00,000 20.04.12 Copy of Cash Statements Bank Statement 5 _ . ^ Bank With drawal 200.000 29 02.12 Copy of Cash Statement/Bank Statement 6 Shashi Jin da! 79214 Bank With drawal 200.000 29.02. 2 Capy of Cash Statement-Bank Statement 7 Rilu Jindal 220589 Bank With dr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o the extent of Rs. 1 lakhs on account of Stridhan and addition of Rs. 3,50,000/- was sustained. 8. Before us, the ld. counsel for the assessee reiterated what has been stated before the lower authorities. 9. Per contra, the ld. DR strongly supported the findings of the Assessing Officer. 10. We have given thoughtful consideration to the orders of the authorities below. The undisputed facts are that during the course of search proceedings itself, the assessee has explained the break-up of cash in the name of his family members. Such break-up is exhibited elsewhere. The undisputed fact is that cash was found from the bedroom of the appellant and, therefore, it can be safely presumed that it was in joint possession of the assessee and his ..... X X X X Extracts X X X X X X X X Extracts X X X X
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