https://www.taxtmi.com/caselaws?id=461538 The ITAT Pune dismissed the assessee's appeal regarding cash deposits during demonetization and agricultural income claims. The tribunal deleted the addition of Rs. 12,07,960 under section 68 as the AO failed to challenge the cash book showing sufficient opening balance. However, the agricultural income claim of Rs. 5,52,310 was rejected due to discrepancies between revenue records and claimed crops, lack of supporting documents, and absence of expenditure records. The tribunal upheld application of section 115BBE at 60% tax rate for AY 2017-18, following the Kerala HC precedent in Maruthi Babu Rao Jadhav case. en-us Fri, 20 Dec 2024 00:00:00 +0530 Fri, 11 Apr 2025 18:56:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461538 The ITAT Pune dismissed the assessee's appeal regarding cash deposits during demonetization and agricultural income claims. The tribunal deleted the addition of Rs. 12,07,960 under section 68 as the AO failed to challenge the cash book showing sufficient opening balance. However, the agricultural income claim of Rs. 5,52,310 was rejected due to discrepancies between revenue records and claimed crops, lack of supporting documents, and absence of expenditure records. The tribunal upheld application of section 115BBE at 60% tax rate for AY 2017-18, following the Kerala HC precedent in Maruthi Babu Rao Jadhav case. Case-Laws Income Tax Fri, 20 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461538