COMMISSIONER OF INCOME TAX Vs. VINOD VIYOGI

JUDGEMENT

(1.) THIS appeal is directed against the order of the Income -tax Appellate Tribunal, Chandigarh, Bench 'B', Chandigarh (for account of unexplained cash, has been deleted. 1995.

(2.) DURING the course of search, besides other things, a sum of Rs. 14.20 lakhs in cash was seized from the residence of the assessee. The assessee claimed that the source of cash was out of cash in hand available with him. It was 117 to 118 of the seized document A -35, seized during the search. This document also shows that he had paid a sum of the date of search was much more than Rs. 14.20 lakhs. The AO did not accept this contention and made the addition of Rs. 14.20 lakhs as unexplained cash.

(3.) THE Tribunal, after appraising the seized material, has found that the assessee had correctly pointed out that he had sufficient cash in hand on the date of search to cover the amount of Rs. 14.20 lakhs seized during the search. The relevant findings are recorded as under :