https://www.taxtmi.com/caselaws?id=789904 Cash found in a locker cannot be taxed as unexplained money under section 69A where surrounding records show it formed part of a group company's cash balance and no contrary evidence disproves that explanation. The ITAT noted that the Assessing Officer's attribution of the seized cash was inconsistent with the seized books and post-search chart, while the company's cash book and related records supported the claim that the cash was cash in hand of the group company. As the company's cash balance was not doubted in its own assessment and ownership by the assessee alone was not established, the addition was deleted. en-us Fri, 10 Apr 2026 00:00:00 +0530 Thu, 16 Apr 2026 08:34:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789904 Cash found in a locker cannot be taxed as unexplained money under section 69A where surrounding records show it formed part of a group company's cash balance and no contrary evidence disproves that explanation. The ITAT noted that the Assessing Officer's attribution of the seized cash was inconsistent with the seized books and post-search chart, while the company's cash book and related records supported the claim that the cash was cash in hand of the group company. As the company's cash balance was not doubted in its own assessment and ownership by the assessee alone was not established, the addition was deleted. Case-Laws Income Tax Fri, 10 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789904