Cash found during search verifiable from audited books cannot be added u/s. 69A as unexplained money

Mahendra Singh Ratnawat Vs DCIT (ITAT Jaipur)

ITAT Jaipur held that addition under section 69A of the Income Tax Act towards unexplained money found during the course of search is liable to be deleted since assessee has discharged his onus to prove that the cash found is completely verifiable from the audited books of accounts.

Facts- A search and seizure action was carried out by the Income Tax Department on Kiran Fine Jewellers Group on 02.08.2017 of which the assessee is one of the members. During the course of search, no incriminating document and other

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