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Land Sale Proceeds Justify Demonetisation Cash Deposits: ITAT Deletes ₹1.28 Cr Tax Addition

Case Law Details

Case Name
DCIT Vs Mukeshbhai Madhavlal Patel (HUF) (ITAT Ahmedabad)
Date of Judgement/Order
Only available for paid members
Related Assessment Year
2017-18
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DCIT Vs Mukeshbhai Madhavlal Patel (HUF) (ITAT Ahmedabad) Explained Cash Source: ITAT Deletes ₹1.28 Crore Addition for Demonetisation Deposit;  Proof of Land Sale Prevails: ITAT Upholds Deletion of ₹1.28 Cr Unexplained Cash Addition; Demonetisation Deposit Explained: ITAT Confirms Cash from Agricultural Land Sale Not Taxable;  Cannot Tax Documented Land Sale Proceeds as Unexplained Cash: ITAT Decision; Land Sale Proceeds Can’t Be Treated as Unexplained Cash – ITAT Ahmedabad Deletes ₹1.28 Cr Addition for Demonetisation Deposits Revenue challenged the deletion of addition of ₹1.2...
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Author Info

CA Vijayakumar Shetty
Qualification: CA in Practice
Company: Shetty & Co, Chartered Accountants, Mangalore
Location: Mangalore, Karnataka
Articles Published: 5,494

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