https://www.taxtmi.com/caselaws?id=55701 The Tribunal held that there was no justification for the addition of Rs. 20 lacs in the hands of the assessee and deleted the same, thereby allowing the appeal on this ground. The Tribunal found that the cash found during the search belonged to various partnership firms and family members, effectively rebutting the presumption that it belonged to the assessee. Additionally, the Tribunal noted that there was no motive to evade tax as the total tax payable by the firms and partners was higher than what would have been payable by the assessee alone. en-us Fri, 25 Oct 1996 00:00:00 +0530 Mon, 29 Nov 2010 15:20:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55701 The Tribunal held that there was no justification for the addition of Rs. 20 lacs in the hands of the assessee and deleted the same, thereby allowing the appeal on this ground. The Tribunal found that the cash found during the search belonged to various partnership firms and family members, effectively rebutting the presumption that it belonged to the assessee. Additionally, the Tribunal noted that there was no motive to evade tax as the total tax payable by the firms and partners was higher than what would have been payable by the assessee alone. Case-Laws Income Tax Fri, 25 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55701