https://www.taxtmi.com/caselaws?id=774166 The Tribunal partly allowed the appeal regarding unexplained cash deposits of Rs. 12,11,420 in the assessee's savings account. While the AO's reassessment under sections 144 and 147 was upheld due to the assessee's non-compliance with assessment proceedings, the Tribunal accepted that deposits represented agricultural trading proceeds despite insufficient documentation. Applying a liberal approach, the Tribunal estimated income at 25% of gross receipts (Rs. 3,02,855) rather than treating the entire amount as unexplained income, balancing revenue interests with fair treatment of the assessee. en-us Tue, 13 May 2025 00:00:00 +0530 Fri, 04 Jul 2025 08:38:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774166 The Tribunal partly allowed the appeal regarding unexplained cash deposits of Rs. 12,11,420 in the assessee's savings account. While the AO's reassessment under sections 144 and 147 was upheld due to the assessee's non-compliance with assessment proceedings, the Tribunal accepted that deposits represented agricultural trading proceeds despite insufficient documentation. Applying a liberal approach, the Tribunal estimated income at 25% of gross receipts (Rs. 3,02,855) rather than treating the entire amount as unexplained income, balancing revenue interests with fair treatment of the assessee. Case-Laws Income Tax Tue, 13 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774166