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Income Tax - Highlights / Catch Notes

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Unexplained deposits in cash in bank - assessee's father was the ...


Cash Deposits Explained: Funds from Sale of Agricultural Land, Addition Deleted After Satisfactory Source Verification.

May 31, 2023

Case Laws     Income Tax     AT

Unexplained deposits in cash in bank - assessee's father was the owner of agriculture land and the said cash was deposited partly out proceeds from sale of agriculture land belonging to father - AO had only considered the cash deposit. Deposit of cash was duly explained during the remand before the ld. AO - Addition deleted - AT

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