https://www.taxtmi.com/caselaws?id=199826 The Tribunal directed the AO to delete the addition of wealth amounting to 2,06,31,230. The Tribunal found that the cash seized during a search operation, totaling 12,69,85,000, was not to be considered as cash in hand for calculating net wealth as it was deposited in a PD account to adjust against tax liability. The Tribunal relied on a previous case where seized cash was similarly treated. As a result, the appeal by the assessee was allowed, overturning the decision of the Ld. CWT(A). en-us Mon, 25 Aug 2014 00:00:00 +0530 Tue, 13 Mar 2018 21:12:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199826 The Tribunal directed the AO to delete the addition of wealth amounting to 2,06,31,230. The Tribunal found that the cash seized during a search operation, totaling 12,69,85,000, was not to be considered as cash in hand for calculating net wealth as it was deposited in a PD account to adjust against tax liability. The Tribunal relied on a previous case where seized cash was similarly treated. As a result, the appeal by the assessee was allowed, overturning the decision of the Ld. CWT(A). Case-Laws Wealth-tax Mon, 25 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199826