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On-Money or Not, Source Traced to Agricultural Land – ITAT Deletes Addition u/s 69A

Case Law Details

Case Name
Mariamma Kurian Vs ITO (ITAT Indore)
Date of Judgement/Order
Only available for paid members
Related Assessment Year
2011-12
Advertisement Mariamma Kurian Vs ITO (ITAT Indore) On-Money or Not, Source Traced to Agricultural Land – ITAT Deletes Rs.30 Lakh Addition u/s 69A- Registered Deed Shows Rs.6 Lakhs, Agreement Rs.33 Lakhs – Still No Unexplained Cash, Rules ITAT Indore ITAT allowed the appeal of an individual widow Assessee & deleted the addition of Rs.30 lakhs made u/s 69A towards unexplained cash deposit. Assessee, a pensioner, filed return declaring income of Rs.1,53,287/-. During scrutiny, AO noticed cash deposits of Rs.30 lakhs in her bank account. Assessee explained that the amount represented sa...
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Author Info

CA Vijayakumar Shetty
Qualification: CA in Practice
Company: Shetty & Co, Chartered Accountants, Mangalore
Location: Mangalore, Karnataka
Articles Published: 5,928

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