Sale of Agricultural Land Justifies Cash Deposits – ITAT Delhi Deletes Section 69A Addition

Dinesh Kumar Vs ITO (ITAT Delhi) Cash Deposits Explained by Sale of Agricultural Land — ITAT Delhi Deletes Section 69A Addition The Delhi Bench of the ITAT allowed the appeal of Dinesh Kumar for AY 2015-16 and deleted the addition of ₹38.60 lakh made under section 69A as unexplained money. The reassessment was initiated on account of large cash deposits and investment in immovable property. The assessee explained the cash deposits as arising from earlier withdrawals, cash loans, and sale of agricultural land. While the AO accepted the source to the extent of ₹8.90 lakh from prior withdra...