Addition for Cash seized during search allegedly belonging to other persons valid if Assessee not furnishes any explanation/Evidence

Blue Lines Vs ACIT (Karnataka High Court)

Learned counsel for the revenue has invited our attention to para 11 of the order passed by the tribunal and has submitted that the assessee has failed to produce any material to show that the cash seized during the course of search belonged to M/s S.S.Tours and Travels. It is further submitted that in any case, the aforesaid issue is a finding of fact in which no perversity could be pointed out by the learned counsel for the assessee, therefore, no case for interference is made out.

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