https://www.taxtmi.com/caselaws?id=769110 ITAT Delhi allowed the appeal and quashed the assessment order under sections 144/147 regarding unexplained cash deposits under section 69. The assessee, an agriculturist with exempt agricultural income, successfully proved the source of cash deposits by demonstrating that funds originated from compensation received by his wife and father for agricultural land acquisition, which was exempt from income tax. The assessee provided supporting bank account records of himself, his wife, and father. The authorities failed to bring contrary material evidence, establishing that the cash deposits had legitimate sources from exempt compensation amounts. en-us Thu, 29 Aug 2024 00:00:00 +0530 Thu, 17 Apr 2025 17:26:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769110 ITAT Delhi allowed the appeal and quashed the assessment order under sections 144/147 regarding unexplained cash deposits under section 69. The assessee, an agriculturist with exempt agricultural income, successfully proved the source of cash deposits by demonstrating that funds originated from compensation received by his wife and father for agricultural land acquisition, which was exempt from income tax. The assessee provided supporting bank account records of himself, his wife, and father. The authorities failed to bring contrary material evidence, establishing that the cash deposits had legitimate sources from exempt compensation amounts. Case-Laws Income Tax Thu, 29 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769110