https://www.taxtmi.com/caselaws?id=412565 The appeal was partly allowed in a case concerning the addition of unexplained cash under section 69A of the Income Tax Act. The Tribunal acknowledged the elderly status of the assessee and the likelihood of the cash being kept for emergencies but stressed the importance of explaining the source of funds. As only Rs. 2 lakhs out of the total amount was seized, the Assessing Officer was directed to restrict the disallowance to this amount, providing the assessee with partial relief. en-us Thu, 09 Sep 2021 00:00:00 +0530 Wed, 22 Sep 2021 06:15:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412565 The appeal was partly allowed in a case concerning the addition of unexplained cash under section 69A of the Income Tax Act. The Tribunal acknowledged the elderly status of the assessee and the likelihood of the cash being kept for emergencies but stressed the importance of explaining the source of funds. As only Rs. 2 lakhs out of the total amount was seized, the Assessing Officer was directed to restrict the disallowance to this amount, providing the assessee with partial relief. Case-Laws Income Tax Thu, 09 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412565