Addition u/s 69A can’t be imposed when Assessee doesn’t hold Ownership of Money and No Evidence has been found concerning Cash: ITAT [Read Order]

By Sunayana Dhal - On December 16, 2023 12:20 pm - 2 mins read
ITAT - ITAT delhi - Cash - Ownership of Money - Addition - Assessee - Ownership - taxscan

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the addition under Section 69A of the Income Tax Act, 1961 cannot be imposed when the assessee doesn’t hold the ownership of the money and there is no evidence found concerning the cash. A search was conducted under Section 132(1) of the Income…

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