A search was conducted at the residential premises of the assessee’s father-in-law. Cash was seized . At same time, a search was also conducted at another residential premises belonging to the assessee but nothing was found there . Return was filed in pursuance of notice u\/s153C . AO held that assessee used to live with his father-in-law and it was actually assessee who was accumulating cash found at residence . Accordingly made the addition . In response to summons issued under S.\u00a0 131\u00a0 father in law in\u00a0 his written submission admitted that cash seized from his premises belonged to him\u00a0 and -he had also filed a tax return for block assessment showing said seized cash and also enclosed cash flow statement with his return explaining recovered cash. CIT(A) deleted the addition. Tribunal confirmed the addition . On appeal High court\u00a0 no addition could be made to income of assessee in respect of impugned cash found at premises of his father-in-law . High Court referred the provisions of S.132(4A and also 292C of the Act .<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 69A : Unexplained money \u2013 Cash found – Residential premises of father-in-law- Addition cannot be made in the assessment of the assessee. [ S. 132, 132(4A, 153C, 292C ]<\/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":[1],"tags":[],"class_list":["post-8306","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-29Y","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8306","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=8306"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8306\/revisions"}],"predecessor-version":[{"id":12889,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8306\/revisions\/12889"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=8306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=8306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=8306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}