ITAT Chennai Deletes Rs. 8 Lakh Addition for Cash Deposit from Casuarina Tree Sale Income

T. Radhakrishnan Vs ITO (ITAT Chennai) Income Tax Appellate Tribunal (ITAT), Chennai, has ruled in favor of an individual taxpayer, T. Radhakrishnan, by deleting an addition of ₹8,00,000 made to his income by the Assessing Officer (AO). The case, T. Radhakrishnan Vs ITO, pertained to the assessment year 2015-16 and centered on a cash deposit the assessee had made into his bank account. The assessee, an individual, had disclosed an income of ₹8,00,000 in his tax return as agricultural income from the sale of casuarina trees from his 23 acres of land in Tamil Nadu. A subsequent scrutiny by t...