Cash Seizure Case: HC Cuts Addition to Actual Seized Amount, Rejects Inflated Estimate

Aabid Ali Khan Vs ACIT (Delhi High Court) Cash Seizure Case: HC Cuts Addition to Actual Seized Amount, Rejects Inflated Estimate Delhi High Court partly allowed the assessee’s appeal in a case involving cash seizure of ₹68.47 lakh linked to alleged unaccounted income. The assessee claimed that ₹80.42 lakh was pooled from 17 persons (family/friends) for a property deal that failed. However, the AO, CIT(A), and ITAT rejected this explanation, holding that: The story of pooling funds from 17 persons lacked credibility, Cash withdrawals were spread over months and didn’t match the claimed...