Cash found & seized- Arguments must be substantiated by Documents

Devendra Kumar Jhanwar Vs ITO (ITAT Jodhpur) The impugned addition stem from the fact that an amount of Rs.8 Lacs in cash (in old currency notes of denomination of Rs.500 & Rs.1000 as demonetized by government on 08/11/2016) was found from the possession of the assessee on 18/11/2016 at arrival terminal of Maharana Pratap Airport, Udaipur, Rajasthan. Accordingly, warrant of authorization u/s 132A was issued by Pr. Director of Income Tax (Inv.), Jaipur, Rajasthan in the case of the assessee to requisition the said amount of Rs. 8 Lacs. The appraisal report belonging to the assessee was forw...