ITAT Delhi Deletes ₹13 Lakh Cash Deposit Addition Linked to Sale of Rural Agricultural Land

Jitendra Singh Vs ITO (ITAT Delhi) ITAT Delhi Deletes Cash Deposit Addition – Sale of Rural Agricultural Land Accepted as Source- Onus Shifted Once Evidence Filed – Revenue Failed to Disprove Assessee, engaged in agriculture, had not filed ROI for AY 2015-16. Based on AIR/AIMS information of cash deposits exceeding ₹10 lakh, reassessment u/s 147 was initiated. AO noted Assessee’s explanation that deposits arose from (i) cash consideration received on sale of agricultural land, & (ii) gift from father (who himself sold agricultural land). AO rejected the explanation citing mismatch ...