Unsigned Seized Agreement Cannot Prove Cash Receipt: Section 69A Addition Deleted

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 assessee. The Tribun...