Addition for cash found with others cannot be added to Appellant’s income in absence of reasonable nexus

Dharmraj Prasad Bibhuti Vs ITAT, Patna (Patna High Court) Section 132 (4A) of the I.T. Act provides that where any books of Accounts, other documents, money etc. is found in possession or control of any person in course of search, it may be presumed that the same belongs to such person. It is apparent from the facts of the present case that not only has the seized cash been found from the house of Deo Lal Sah, father-in-law of the appellant, the said Deo Lal Sah in his written statement has also claimed ownership of the said cash. Thus, even in law as per section 132 (4A) of the I.T. Act the c...