https://www.taxtmi.com/caselaws?id=404312 Possession of cash during a search can satisfy the requirement of being "found to be the owner" under Section 69A of the Income-tax Act, 1961, so the assessee must satisfactorily explain the nature and source of the money. Where the explanation is unsupported by reliable evidence, contains inconsistencies, and is rejected on concurrent factual findings by the tax authorities, the cash may be treated as unexplained money. On those facts, the High Court held that no substantial question of law arose from the Section 69A interpretation and upheld the addition. en-us Mon, 08 Feb 2021 00:00:00 +0530 Wed, 07 Apr 2021 14:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404312 Possession of cash during a search can satisfy the requirement of being "found to be the owner" under Section 69A of the Income-tax Act, 1961, so the assessee must satisfactorily explain the nature and source of the money. Where the explanation is unsupported by reliable evidence, contains inconsistencies, and is rejected on concurrent factual findings by the tax authorities, the cash may be treated as unexplained money. On those facts, the High Court held that no substantial question of law arose from the Section 69A interpretation and upheld the addition. Case-Laws Income Tax Mon, 08 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404312