https://www.taxtmi.com/caselaws?id=374412 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee, overturning the Commissioner of Income Tax (Appeals) decision to add Rs. 20,50,000 as unexplained cash deposit. ITAT accepted the assessee's explanation that the cash deposit was part of the sale consideration, supported by evidence from the sale deed, bank transactions, and cheque issuance. The judgment emphasized the significance of documentary evidence and transaction sequence in establishing the source of funds, ultimately deciding in favor of the assessee. en-us Thu, 20 Dec 2018 00:00:00 +0530 Fri, 01 Feb 2019 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374412 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee, overturning the Commissioner of Income Tax (Appeals) decision to add Rs. 20,50,000 as unexplained cash deposit. ITAT accepted the assessee's explanation that the cash deposit was part of the sale consideration, supported by evidence from the sale deed, bank transactions, and cheque issuance. The judgment emphasized the significance of documentary evidence and transaction sequence in establishing the source of funds, ultimately deciding in favor of the assessee. Case-Laws Income Tax Thu, 20 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374412