Addition u/s. 69 without any concrete evidence against assessee is not sustainable

Parag Motilal Savla Vs NFAC (ITAT Mumbai)

ITAT Mumbai held that addition under section 69 towards unexplained cash made by the AO without bringing any concrete evidence on record incriminating the assessee is not sustainable. Accordingly, addition u/s. 69 deleted.

Facts- The appellant assessee is an individual engaged in the business of professional photography. A search and seizure action u/s. 132 of the Act was conducted in October 2017 in the case of M/s. Evergreen Enterprises. On the basis of documents found and seized during the course of search action,

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