Allowing the petition the Court held that where Rs. 16 lakhs seized at airport was explained as professional income recorded in books, Tribunal accepted explanation and deleted addition. Competent authority was directed to return seized cash. [AY. 2019-20]
Ramchandra K. Mendadkar v. UOI [2023] 154 taxmann.com 440 (Bom)(HC)
S. 69A : Unexplained money-Seizure at airport-Professional income explained-Competent authority was directed to return seized cash. [S. 131(1A),Art. 226]