https://www.taxtmi.com/caselaws?id=403726 Cash seized from the assessee could not be assessed as unexplained money under section 69A where the assessee supported the source with a cash book, return of income, statement of affairs, cash flow statement and business receipts. The record showed that the cash represented opening balance and business receipts, and there was no adverse finding against the declared receipts or cash balance. On those facts, the source of the cash was treated as explained, so section 69A had no application and the addition was deleted in favour of the assessee. en-us Thu, 28 Jan 2021 00:00:00 +0530 Sat, 06 Feb 2021 11:06:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403726 Cash seized from the assessee could not be assessed as unexplained money under section 69A where the assessee supported the source with a cash book, return of income, statement of affairs, cash flow statement and business receipts. The record showed that the cash represented opening balance and business receipts, and there was no adverse finding against the declared receipts or cash balance. On those facts, the source of the cash was treated as explained, so section 69A had no application and the addition was deleted in favour of the assessee. Case-Laws Income Tax Thu, 28 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403726