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2018 (1) TMI 756 - AT - Income TaxUnexplained cash deposits - Held that:- It is well settled law that when the initial onus placed by explanation has been discharged by the assessee, the onus shift on the revenue to show that the amount in question constituted undisclosed income. (Mak Data P. Ltd. V/s CIT - 2013 (11) TMI 14 - SUPREME COURT) All the facts of the case show that sale agreement and sale deed clearly indicates that all the funds deposits in the banks are out of sale proceeds of the ancestral agriculture land of the appellant. All the document are signed by the buyer. The addition made by the assessing office is wrong in law of natural justice. - Decided in favour of assessee.
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