https://www.taxtmi.com/caselaws?id=406608 The Income Tax Appellate Tribunal (ITAT) upheld the CIT(A)'s decision in a case involving cash transactions in seized documents during a search operation. The ITAT ruled that the addition to the assessee's income under Section 69B was not sustainable as there was no direct evidence linking the assessee to the cash transactions. The ITAT emphasized the lack of corroborative evidence and the illogical nature of the cash payments made after the booking was canceled and refund received. The ITAT dismissed the Revenue's appeal, reinforcing the importance of proper investigation and corroborative evidence in such cases. en-us Tue, 30 Mar 2021 00:00:00 +0530 Mon, 19 Apr 2021 20:33:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406608 The Income Tax Appellate Tribunal (ITAT) upheld the CIT(A)'s decision in a case involving cash transactions in seized documents during a search operation. The ITAT ruled that the addition to the assessee's income under Section 69B was not sustainable as there was no direct evidence linking the assessee to the cash transactions. The ITAT emphasized the lack of corroborative evidence and the illogical nature of the cash payments made after the booking was canceled and refund received. The ITAT dismissed the Revenue's appeal, reinforcing the importance of proper investigation and corroborative evidence in such cases. Case-Laws Income Tax Tue, 30 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406608