Source of agricultural income cannot be denied merely for non-depositing of same in bank account

Advertisement Sri Chilukurthi Veeraiah Vs. ITO (ITAT Hyderabad) I have considered the rival contentions and explanations on It is an admitted fact that assessee opened the bank account on 09-03-2009 only and subsequently deposited cash to issue cheque/DDs to the said company for investment. It is also true that assessee has agricultural lands and agricultural income including amounts received on sale of agricultural lands, which are verifiable from the returns of earlier years. Thus, the source of agricultural income cannot be denied, just because assessee had not deposited the same in bank...