https://www.taxtmi.com/caselaws?id=384804 HC held that cash seized during a search at the residence of the assessee's father-in-law belonged to the father-in-law, not the assessee. Applying section 110 Evidence Act and section 292C Income-tax Act, the court ruled that possession creates a presumption of ownership unless rebutted, and here the money was found at, and claimed by, the father-in-law. Since section 292C presumes that seized money belongs to the person in whose possession it is found, the revenue erred in treating it as the assessee's undisclosed income. The block return and cash-flow statement filed by the father-in-law were accepted, and the questions of law were answered in favour of the assessee. en-us Thu, 08 Aug 2019 00:00:00 +0530 Fri, 21 Nov 2025 11:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384804 HC held that cash seized during a search at the residence of the assessee's father-in-law belonged to the father-in-law, not the assessee. Applying section 110 Evidence Act and section 292C Income-tax Act, the court ruled that possession creates a presumption of ownership unless rebutted, and here the money was found at, and claimed by, the father-in-law. Since section 292C presumes that seized money belongs to the person in whose possession it is found, the revenue erred in treating it as the assessee's undisclosed income. The block return and cash-flow statement filed by the father-in-law were accepted, and the questions of law were answered in favour of the assessee. Case-Laws Income Tax Thu, 08 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384804