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2019 (8) TMI 1854 - ITAT CHANDIGARHUnexplained cash deposits in the bank account - receipt of cash on sale of Popular tree - assessee explained that he alongwith his family members has 27.5 Acres of agriculture land and there were “ Popular Trees” on 20 Acres of land and that the trees were also planted on the periphery of the field which were sold for Rs. 20.65 lacs during April and May 2009 - HELD THAT:- In the present case, the A.O. while observing that trees were already cut in the earlier years had not brought any evidence on record to rebut this contention of the assessee that the Popular trees were already planted on the periphery of the field. Therefore, by considering the totality of the facts, particularly the acceptance given by the purchasers of the Popular trees in their respective affidavits, sale proceeds from Shri Ziledar Ali and Shri Mohan Walia apart from the agriculture income estimated by the Ld. CIT(A) at Rs. 11,00,000/- was sufficient to make the deposit of Rs. 26,68,850/- in the bank account of the assessee. In that view of the matter the addition sustained by the Ld. CIT(A) is deleted. Appeal of the assessee is allowed.
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