ITAT remanded the case regarding seized cash from a bank locker,...

ITAT remanded the case regarding seized cash from a bank locker, finding the Assessing Officer (AO) and CIT(A) did not adequately examine the assessee's claim of income from speculative food grains business. The tribunal directed the AO to re-examine the matter afresh, providing the assessee reasonable opportunity to substantiate the source of seized cash. Additionally, the tribunal held that the CIT(A)'s interpretation of section 132B(1) was incorrect and directed the AO to allow credit of seized cash towards the assessee's self-assessment tax liability for Assessment Year 2019-20, after re-framing the assessment as per the tribunal's observations.