If the documents found during the course of the search satisfactorily explain the income of the assessee no addition can be made under S. 68 of the Act as there is no unaccounted income lying in the hands of the assessee. (AY 2013-2014)
Dy. CIT v. Pumarth Commodities P. Ltd. (2019) 69 ITR 52 (SN) (Indore)(Trib.)
S. 68 : Cash credit-Impounding of documents found during search-Satisfactory explanation is furnished–Addition cannot be made. [S. 132, 153A]