https://www.taxtmi.com/caselaws?id=464186 ITAT allowed the appeal and quashed an addition under s.68 of Rs.44 lakh. The tribunal found the assessee had substantiated that the bank deposits arose from sale proceeds of agricultural land (part paid by cheque and Rs.44,00,000 in cash) and had filed an affidavit which revenue authorities failed to confront or properly verify. On that basis the AT held the cash deposits coherent with the sale consideration and set aside the addition. en-us Mon, 07 Aug 2023 00:00:00 +0530 Thu, 09 Oct 2025 20:48:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464186 ITAT allowed the appeal and quashed an addition under s.68 of Rs.44 lakh. The tribunal found the assessee had substantiated that the bank deposits arose from sale proceeds of agricultural land (part paid by cheque and Rs.44,00,000 in cash) and had filed an affidavit which revenue authorities failed to confront or properly verify. On that basis the AT held the cash deposits coherent with the sale consideration and set aside the addition. Case-Laws Income Tax Mon, 07 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464186