Summary
- The ITAT Delhi has deleted a ₹1.43 lakh addition under Section 69A, ruling that the seized cash belonged to family members of the assessee.
- The decision was supported by affidavits and books demonstrating ownership of the cash by the family.
- This ruling underscores the importance of substantiating claims of ownership in tax assessments.
- The implications could influence similar cases involving family-owned assets in income tax disputes.
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