Accepted Cash Balance Can’t Be Rejected: ITAT Deletes ₹16.55L Addition u/s 69A

Smt. Satyabhama Vs DCIT (ITAT Hyderabad) The Hyderabad ITAT deleted the addition of ₹16.55 lakh u/s 69A, holding that cash found during search was duly explained by earlier accepted cash balance. The Tribunal also condoned a 97-day delay, adopting a liberal approach considering the assessee’s age, lack of digital access, and procedural difficulties. On merits, cash of ₹22 lakh was found during search. The assessee explained that it was out of cash-in-hand of ₹22.64 lakh as on 31.03.2018, as reflected in the balance sheet. Notably, this balance sheet had been accepted by the department ...