https://www.taxtmi.com/caselaws?id=413696 Cash deposits in the assessee's bank account were alleged to be unexplained income, but the explanation that they represented sale consideration from agricultural land required proper verification of the unregistered sale agreements, affidavit, witnesses and surrounding circumstances. The record showed that these materials had not been independently examined and the source of the deposits was not conclusively established merely by relying on the lesser consideration in the registered sale deed. The matter was therefore remanded to the first appellate authority for de novo adjudication after giving the assessee a proper opportunity to substantiate the cash deposits and for fresh fact-finding on the evidentiary value of the sale-related material. en-us Thu, 14 Oct 2021 00:00:00 +0530 Mon, 18 Oct 2021 09:29:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413696 Cash deposits in the assessee's bank account were alleged to be unexplained income, but the explanation that they represented sale consideration from agricultural land required proper verification of the unregistered sale agreements, affidavit, witnesses and surrounding circumstances. The record showed that these materials had not been independently examined and the source of the deposits was not conclusively established merely by relying on the lesser consideration in the registered sale deed. The matter was therefore remanded to the first appellate authority for de novo adjudication after giving the assessee a proper opportunity to substantiate the cash deposits and for fresh fact-finding on the evidentiary value of the sale-related material. Case-Laws Income Tax Thu, 14 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413696