Held that all nine group companies were assessed by the same Assessing Officer who had accepted the cash in hand of all the group concerns in their respective assessments. Therefore, the availability of cash with the different companies was sufficient to explain the cash found at the time of search. Order of CIT(A) is affirmed. (AY.2018-19)
Dy. CIT v. Creamy Foods Ltd. (2023)108 ITR 66 (SN)(Delhi)(Trib)
S. 69A : Unexplained money-Search and seizure-Cash belonging to two concerns not functioning from same premises-Could not be considered in hands of assessee-Deletion of addition is proper