https://www.taxtmi.com/caselaws?id=752768 The ITAT Hyderabad partially allowed the assessee's appeal, acknowledging the appellant's status as an agriculturist with documented agricultural income. The tribunal found the Assessing Officer failed to consider the evidence of agricultural produce sales and past savings. Consequently, the tribunal restricted the addition to Rs. 2,00,000/- and granted a relief of Rs. 4,76,000/-, deleting the latter amount. This decision emphasizes the need for proper assessment based on factual evidence and relevant provisions of the IT Act, particularly regarding cash deposits from agricultural income. en-us Tue, 02 Apr 2024 00:00:00 +0530 Fri, 17 May 2024 08:33:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752768 The ITAT Hyderabad partially allowed the assessee's appeal, acknowledging the appellant's status as an agriculturist with documented agricultural income. The tribunal found the Assessing Officer failed to consider the evidence of agricultural produce sales and past savings. Consequently, the tribunal restricted the addition to Rs. 2,00,000/- and granted a relief of Rs. 4,76,000/-, deleting the latter amount. This decision emphasizes the need for proper assessment based on factual evidence and relevant provisions of the IT Act, particularly regarding cash deposits from agricultural income. Case-Laws Income Tax Tue, 02 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752768