Addition u/s 69 Deleted: Cash in Locker Proven as Flat Sale Proceeds Assessed to Capital Gains

DCIT Vs Inderpal Singh (ITAT Chandigarh) ITAT Chandigarh held that amount in locker being cash received on sale of flat which is already assessed to capital gain. Accordingly, addition under section 69 of the Income Tax Act towards unexplained cash rightly deleted by CIT(A). Thus, appeal of revenue dismissed. Facts- There was search and seizure operations on the assessee on 28.11.2018 and during the course of search and seizure operations, in Locker No. 41 & 42, belonging to Sh. Inderal Singh and his wife, cash amounting to Rs. 1,00,12,500/- was found. The statement of Sh. Inderal Singh wa...