Closing Cash Balance Cannot Be Taxed as Unexplained Money u/s 69A

Advertisement Nanakchand Agrawal Vs ITO (Chhattisgarh High Court) Chhattisgarh HC order on Whether the assessment in respect of the closing balance of cash-in-hand, shown in balance sheet of the preceding year which was brought down as an opening balance of the succeeding year, whether it can be an unexplained money under Section 69 A of Income Tax Act, 1961 of succeeding year and can be charged to tax under Section 115 BBE of Income Tax Act Brief facts: The Assessing Officer in its assessment order passed under Section 143(3) of the IT Act on 14-11-2019 made an addition of ₹ 23,00,000/- ...