ITAT Deletes Addition for cash deposits as assessee duly explained source

Girdari Lal Vs ITO (ITAT Delhi) Introduction: The case of Girdari Lal Vs ITO highlights the considerations around income addition for an elderly agriculturist. The Income Tax Appellate Tribunal (ITAT), Delhi, examined the situation where cash deposits made in the bank were considered as income addition by the Assessing Officer (AO), leading to a dispute over income tax assessment. Analysis: Girdari Lal, a 92-year-old individual who earned income from agricultural activities, deposited cash of Rs.27,85,000/- in his bank account during the assessment year. This amount, according to Girdari Lal, ...