https://www.taxtmi.com/caselaws?id=342178 The Tribunal upheld the decision that the cash deposits exceeding the sale deed amount were unexplained income, subject to tax. However, it ruled that the additional cash deposits were part of the sale proceeds of agricultural land and exempt from tax as agricultural income. Section 68 of the Income Tax Act was considered, with the Tribunal concluding that the cash deposits were not unexplained income but part of the agricultural land sale proceeds. The Tribunal dismissed the Revenue's appeal, affirming the non-taxability of the additional cash deposits based on the specific circumstances of the case. en-us Wed, 26 Apr 2017 00:00:00 +0530 Fri, 28 Apr 2017 10:13:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342178 The Tribunal upheld the decision that the cash deposits exceeding the sale deed amount were unexplained income, subject to tax. However, it ruled that the additional cash deposits were part of the sale proceeds of agricultural land and exempt from tax as agricultural income. Section 68 of the Income Tax Act was considered, with the Tribunal concluding that the cash deposits were not unexplained income but part of the agricultural land sale proceeds. The Tribunal dismissed the Revenue's appeal, affirming the non-taxability of the additional cash deposits based on the specific circumstances of the case. Case-Laws Income Tax Wed, 26 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342178