₹3.49 Cr Cash Seizure Backed by Cash Book & Debtor Realisations: ITAT Deletes Sec 69A Addition

Deepavali Balu Vs DCIT (ITAT Hyderabad) ₹3.49 Crore Cash Seized from Vehicles Carrying Assessee’s Money, Supported by Cash Book and Debtor Realisations — ITAT Hyderabad Deletes Section 69A Addition Key Facts The assessee is engaged in petrol pump and construction business, with turnover exceeding ₹115 crore. On 11.10.2022, police intercepted two vehicles and seized cash of ₹3,49,93,800, carried by acquaintances of the assessee. Statements recorded under section 131(1A) confirmed that the cash belonged to the assessee and was being transported on his instructions. The assessee explai...