https://www.taxtmi.com/caselaws?id=759131 The ITAT allowed the assessee's appeal regarding unexplained deposits during demonetization. The tribunal held that agricultural receipts of Rs. 6,00,000 deposited during demonetization were part of total agricultural receipts accepted by the AO for FY 2016-17, making rejection contradictory. For loan recoveries, the assessee provided adequate supporting evidence including account confirmations, notarized affidavits, Aadhaar cards, and death certificates where applicable. The tribunal found these evidences proved the claimed transactions, making the AO's additions unsustainable. en-us Mon, 02 Sep 2024 00:00:00 +0530 Wed, 25 Sep 2024 08:01:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759131 The ITAT allowed the assessee's appeal regarding unexplained deposits during demonetization. The tribunal held that agricultural receipts of Rs. 6,00,000 deposited during demonetization were part of total agricultural receipts accepted by the AO for FY 2016-17, making rejection contradictory. For loan recoveries, the assessee provided adequate supporting evidence including account confirmations, notarized affidavits, Aadhaar cards, and death certificates where applicable. The tribunal found these evidences proved the claimed transactions, making the AO's additions unsustainable. Case-Laws Income Tax Mon, 02 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759131