Senior Citizen Found with ₹95.89 Lakh Cash on Train Claimed It Belonged

The ITAT upheld the addition for a senior citizen found with Rs 95.89 lakh cash on a train, who claimed it belonged to a firm, due to a lack of sufficient evidence. The tribunal found that the individual failed to provide adequate documentation or a credible explanation to substantiate the source and ownership of the large sum of cash. This decision underscores the importance of providing robust evidence to explain cash holdings, especially large amounts. It reinforces the tax authorities' right to add unexplained cash as income if the taxpayer cannot prove its legitimate source.