Cash Deposits During Demonetisation Cannot Be Treated as Unexplained When Agricultural Source Is Proved

Balwinder Singh Vs ITO (ITAT Amritsar) Agricultural income & prior cash withdrawal explain demonetisation deposits; ITAT Amritsar deletes Section 69A & 115BBE Amritsar allowed Assessee’s appeal & deleted addition of ₹26.73 lakh u/s 69A & consequential invocation of s.115BBE relating to cash deposits during demonetisation. Tribunal noted that Assessee is an agriculturist with substantial landholdings (own & leased), supported by Jamabandi, J-Forms, crop loan documents & hypothecation agreements, evidencing genuine agricultural operations. It was further found that �...