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No addition for Cash Short found at premises: HC
Case Law Details
- Case Name
- CIT Vs M/s Kesarwani Sheetalaya Alld. (Allahabad High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09
- Courts
- All High Courts, Allahabad High Court
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CIT Vs M/s Kesarwani Sheetalaya Alld. (Allahabad High Court)
As to the addition made of Rs.37,30,710/-, which is lesser cash in hand as compared with the books of accounts in which the assess has shown more cash in hand, it is neither a case under Section 68 of the IT Act nor Section 69-A of the Income Tax Act. It was not a case where money is not recorded in the books of account of assessee, and in the present case cash in hand in the books of account was found to be more than the actual cash found during the course of search. At the most, authorities could have presumed that assessee has spe...
