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ITAT Delhi Deletes ₹13 Lakh Cash Deposit Addition Linked to Sale of Rural Agricultural Land
Case Law Details
- Case Name
- Jitendra Singh Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Delhi
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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 ...
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