Addition u/s. 69A deleted as cash duly recorded in books of accounts

DCIT Vs Ace Infracity Developers Pvt. Ltd. (ITAT Delhi)

ITAT Delhi held that cash is duly recorded in the books of accounts hence addition of the same under section 69A of the Income Tax Act as unexplained money. Accordingly, addition rightly deleted by CIT(A). Appeal of the revenue dismissed.

Facts- A search and seizure operation was conducted on 28.07.2021 at the premises of the ACE and Kurle Group and then again on Ace & Rudra Group on 04.01.2022. The search warrant was in the name of M/s. ACE Infracity Developers Pvt. Ltd.

The assessee compan

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