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2023 (4) TMI 997 - ITAT VISAKHAPATNAMUnexplained cash deposits in bank accounts - main contention of the Ld.AR is that the assessee has received partial amount by way of cheque against sale cum GPA agreement from Sri S.Veera Raghavareddy as advance - AR pleaded that the same amount cannot be taxed twice and prayed for relief - HELD THAT:- Admittedly, the assessee has received Rs.15,00,000/- by way of cheque from Shri Veera Raghava Reddy as loan against property by way of execution of GPA cum sale agreement for security. This fact was not disputed by the revenue. We find from the arguments of the Ld.AR that the Ld.AO order has given a detailed breakup of cash deposits and cheque deposits in assessee’s bank account - We find from the table as extracted in Ld.AO’s order that the amount of Rs.15,00,000/- was included while disallowing the cash deposits - We, therefore find merit in the argument of the Ld.AR that the same amount cannot be taxed twice in the hands of the assessee. We are therefore of the considered view that since the same amount cannot be taxed twice, we direct the Ld.AO to delete the addition. Decided in favour of assessee. Addition of agricultural income - contention of the Ld.AR that the assessee is deriving agricultural income from Ac.29.76 cnts owned by her but the AO rejected the contention of the assessee holding that the assessee has not produced revenue records in support of her claim - HELD THAT:- We find, that the Ld.CIT(A) has rightly estimated the agricultural income of the assessee basing on the valid proposition. Hence, we do not find any infirmity in the order passed by the Ld.CIT(A) and dismiss the appeal of the assessee on this ground
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