https://www.taxtmi.com/caselaws?id=755354 ITAT Indore ruled in favor of the assessee regarding unexplained cash deposits during demonetization period. The tribunal found that the assessee owned agricultural lands and sold agricultural produce, with agriculture being the sole source of income. Despite incomplete documentation, the assessee filed sample bills and a solemnized affidavit confirming no income except agriculture. Since agricultural income is fully exempt and no other income source was established, the addition under section 69A and invocation of section 115BBE were set aside as unsustainable. en-us Tue, 23 Jan 2024 00:00:00 +0530 Thu, 11 Jul 2024 08:37:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755354 ITAT Indore ruled in favor of the assessee regarding unexplained cash deposits during demonetization period. The tribunal found that the assessee owned agricultural lands and sold agricultural produce, with agriculture being the sole source of income. Despite incomplete documentation, the assessee filed sample bills and a solemnized affidavit confirming no income except agriculture. Since agricultural income is fully exempt and no other income source was established, the addition under section 69A and invocation of section 115BBE were set aside as unsustainable. Case-Laws Income Tax Tue, 23 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755354