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Section 69A of the Income-tax Act, 1961 - Unexplained moneys - Assessment year 1991-92 Where Tribunal had accepted loose slips which were seized during course of search, but Assessing Officer had come to conclusion that accounts were manipulated subsequent to search, question as to whether cash seized from assessee during search was taxable or not had to be re-examined by Assessing Officer after giving fresh opportunity to assessee [Case remanded] Before filing the return of income by the assessee, a search was conducted on the business premises of the assessee and several incriminating documents were seized. During the course of assessment, the Assessing Officer proceeded to hold that cash of Rs. 16,85,900 seized during the search as the unaccounted cash of the assessee and the other two members of the joint family, namely, his father and brother. Accordingly, a sum of Rs. 5,61,967 was brought to tax in the hands of the assessee. The Tribunal deleted the addition. Held that, the Tribunal had not considered the entire case of the assessee properly. The Tribunal had accepted the loose slips which were seized during the course of search. However, the Assessing Officer had come to the conclusion that the accounts were manipulated subsequent to the search. The same had not been properly considered by both the authorities. Therefore, the question whether the cash seized from the assessee amounting to Rs. 5,61,967 could be taxable or not, had to be re-examined by the Assessing Officer by giving reasonable opportunity to the assessee. M. V. Seshachala for the Appellant. A. S. Shankar and Partridge for the Respondent. JUDGMENT K.L. Manjunath, J.-The legality and correctness of the order passed by the Income-tax Appellate Tribunal, Bangalore, in I.T.A. No. 253/Bang/ 1998, is called in question by the Revenue. 2. The case is pertaining to the assessment year 1991-92. The respondent-assessee filed the return of income on January 31, 1992, declaring the total income as Rs. 19,66,223 and the same was revised by filing a revised return on February 13, 1992, declaring the income as Rs. 21,18,823. Before filing the return of income, a search was conducted on the business…

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