The assessee is a practicing advocate who maintained regular books of account which is audited as per section. 44AB of the Act . The assessee was carrying cash of Rs 16 lakhs while travelling to Delhi in a matter before the Honourable Supreme Court . In the Airport the cash was seized from the assessee. The statement of the assessee was taken and the assessee explained the source of the cash and also reason for carrying the cash with him . The Assessing Officer held that the explanation offered by the assessee was not satisfactory ,hence\u00a0 \u00a0made addition under section. 69A\u00a0 of the Act . On appeal the CIT(A) confirmed the addition . On appeal the Tribunal held that the\u00a0 assessee has disclosed the professional receipts, the books of accounts are audited and \u00a0the amounts are disclosed in the books of account\u00a0 , \u00a0explained the source hence\u00a0\u00a0 additions cannot be made under section 69A of the Act . Addition was deleted . ( ITA No. 163\/Mum\/ 2023 dt 12-5 -2023 )( AY. 2019 -20 )<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 69A : Unexplained money \u2013 Advocate \u2013 Seizure of cash \u2013 Cash withdrawal from Bank \u2013 Professional fees received cash \u2013 Name of the client from whom cash received was disclosed \u2013 The cash amount was disclosed in the books of account \u2013 Revenue cannot ask the asseessee to prove the source of the source -Addition was deleted [ S.44AB , 131(IA) ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-35417","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9df","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=35417"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35417\/revisions"}],"predecessor-version":[{"id":35418,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35417\/revisions\/35418"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=35417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=35417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=35417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}