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Unsigned Seized Agreement Cannot Prove Cash Receipt: Section 69A Addition Deleted
Case Law Details
- Case Name
- Atchutha Venkata Sreenivasa Rao Vs ACIT (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Hyderabad
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Atchutha Venkata Sreenivasa Rao Vs ACIT (ITAT Hyderabad)
Unsigned Seized Agreement Cannot Prove Cash Receipt: Addition Under Section 69A Deleted
The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of ₹1,83,600 made under section 69A, holding that an unsigned and unacted-upon seized document cannot, by itself, establish receipt of unexplained cash. The addition was based on an alleged “agreement of sale” found during a search in the case of the Spectra Group, from which the Assessing Officer inferred a proportionate cash receipt by the ass...
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