https://www.taxtmi.com/caselaws?id=449735 The ITAT Delhi allowed the appeal of the assessee, ruling that the Rs. 13 lakhs seized should not be treated as unexplained money under section 69A of the Income-tax Act, 1961. The tribunal found that the assessee had adequately explained the cash transfer between branches, with no negative cash balance recorded during the relevant period. The cash reconciliation statement submitted by the assessee was accepted, leading to the acceptance of the grounds raised and the appeal being allowed. en-us Fri, 16 Feb 2024 00:00:00 +0530 Mon, 19 Feb 2024 07:32:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449735 The ITAT Delhi allowed the appeal of the assessee, ruling that the Rs. 13 lakhs seized should not be treated as unexplained money under section 69A of the Income-tax Act, 1961. The tribunal found that the assessee had adequately explained the cash transfer between branches, with no negative cash balance recorded during the relevant period. The cash reconciliation statement submitted by the assessee was accepted, leading to the acceptance of the grounds raised and the appeal being allowed. Case-Laws Income Tax Fri, 16 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449735