Addition to be made for unexplained cash found during search proceedings

R. Muthukumar Vs DCIT (ITAT Chennai) The ITAT, Chennai in R. Muthukumar v. Deputy Commissioner of Income Tax [ITA No.: 3090/Chny/2019 dated February 15, 2023 has upheld the findings of the Appellate Authority and held that, there is no error in the reasons given by the Appellate Authority to sustain the additions towards the cash seized during the course of search proceedings as unexplained money, under Section 69A of the Income Tax Act, 1961 (“the IT Act”), when the assessee could not establish the source for amount found. Facts: A search was conducted under Section 132 of the IT Act for ...