No Addition for Demonetisation Cash Deposits Supported by Agricultural Income: ITAT Surat

Ramanbhai P. Viradiya HUF Vs ITO (ITAT Surat) The appeal concerned addition of ₹12.50 lakh treated as unexplained cash under section 68 for AY 2017–18, arising from cash deposits during the demonetization period. The case was selected for limited scrutiny. The assessee explained that the deposits came from agricultural income, supported by ownership of over three hectares of land, crop sales such as cotton, corresponding withdrawals, and documentary evidence including bills and vouchers. The Tribunal found the explanation satisfactory and held that the cash deposits were properly explained...