https://www.taxtmi.com/caselaws?id=467541 Cash treated as unexplained money under section 69A cannot be brought to tax in full where the assessee has an established opening cash balance supported by the capital account and balance sheet. If the preceding year's financial statements were already accepted and nothing on record dislodges the availability of opening cash, that balance must be credited against the cash found, and only the residual amount can be taxed. The tax consequence on the balance is to be computed under section 115BBE of the Income-tax Act, 1961. en-us Tue, 18 Feb 2025 00:00:00 +0530 Mon, 23 Mar 2026 20:37:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467541 Cash treated as unexplained money under section 69A cannot be brought to tax in full where the assessee has an established opening cash balance supported by the capital account and balance sheet. If the preceding year's financial statements were already accepted and nothing on record dislodges the availability of opening cash, that balance must be credited against the cash found, and only the residual amount can be taxed. The tax consequence on the balance is to be computed under section 115BBE of the Income-tax Act, 1961. Case-Laws Income Tax Tue, 18 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467541