https://www.taxtmi.com/caselaws?id=462622 ITAT Raipur allowed the appeal regarding cash deposits of Rs. 20 lacs treated as unexplained cash credit under Sec. 68. The assessee received cash advances against agricultural land sale agreements from seven parties. While the department accepted transactions for five parties, it rejected affidavits of two parties filed as additional evidence before CIT(A)/NFAC. The tribunal found the rejection arbitrary since the department accepted identical transactions and land agreements for other parties on same parameters. The department failed to establish why some affidavits were valid while others were invalid for the same land transaction. The addition was deleted as unfounded and bad in law. en-us Wed, 15 May 2024 00:00:00 +0530 Fri, 04 Jul 2025 19:03:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462622 ITAT Raipur allowed the appeal regarding cash deposits of Rs. 20 lacs treated as unexplained cash credit under Sec. 68. The assessee received cash advances against agricultural land sale agreements from seven parties. While the department accepted transactions for five parties, it rejected affidavits of two parties filed as additional evidence before CIT(A)/NFAC. The tribunal found the rejection arbitrary since the department accepted identical transactions and land agreements for other parties on same parameters. The department failed to establish why some affidavits were valid while others were invalid for the same land transaction. The addition was deleted as unfounded and bad in law. Case-Laws Income Tax Wed, 15 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462622