https://www.taxtmi.com/caselaws?id=464297 ITAT SURAT - AT held that the assessee's cash deposits during demonetisation were substantiated by consistent agricultural income shown in returns and ITR-Form 2A; agricultural receipts cannot be treated as unexplained credit. The CIT(A)'s acceptance of agricultural income is upheld despite an accidental omission in reasoning. A token disallowance of Rs.2.00 lakh is adequate to prevent revenue leakage; no addition on agricultural income is warranted. The AO is directed to compute any tax consequences at the normal rate. en-us Tue, 12 Nov 2024 00:00:00 +0530 Thu, 16 Oct 2025 22:05:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464297 ITAT SURAT - AT held that the assessee's cash deposits during demonetisation were substantiated by consistent agricultural income shown in returns and ITR-Form 2A; agricultural receipts cannot be treated as unexplained credit. The CIT(A)'s acceptance of agricultural income is upheld despite an accidental omission in reasoning. A token disallowance of Rs.2.00 lakh is adequate to prevent revenue leakage; no addition on agricultural income is warranted. The AO is directed to compute any tax consequences at the normal rate. Case-Laws Income Tax Tue, 12 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464297