Non-Mention of Sections 69 to 69D Cannot Defeat Unexplained Cash Addition: ITAT Hyderabad

Ashok Kumar Agarwal Vs ACIT (ITAT Hyderabad) The Income Tax Appellate Tribunal (ITAT), Hyderabad, partly allowed the assessee’s appeal arising from additions made on account of unexplained cash and gold bullion found during a search. The Tribunal held that the Assessing Officer’s failure to cite a specific provision under Sections 69 to 69D of the Income-tax Act did not invalidate the additions, as the assessment order clearly recorded the facts and reasons for treating the cash and gold bullion as unexplained. A search under Section 132 was conducted on 04.06.2019, during which ca...