https://www.taxtmi.com/caselaws?id=782949 ITAT Chandigarh-AT allowed the assessee's appeal and deleted the addition u/s 69 for alleged unexplained cash deposits. It held that the assessee's ownership of agricultural land and the conduct of agricultural operations were undisputed, and the cash deposits in the joint bank account were credibly explained as agricultural proceeds belonging to the assessee's daughter, supported by uncontroverted affidavits. ITAT ruled that, absent any cross-examination or contrary evidence, such affidavits carry evidentiary weight and cannot be rejected on mere suspicion or for want of mandi receipts. Since the deposits were shown to belong to another identifiable person, the statutory preconditions for invoking s.69 were not satisfied. en-us Fri, 28 Nov 2025 00:00:00 +0530 Sat, 06 Dec 2025 08:46:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782949 ITAT Chandigarh-AT allowed the assessee's appeal and deleted the addition u/s 69 for alleged unexplained cash deposits. It held that the assessee's ownership of agricultural land and the conduct of agricultural operations were undisputed, and the cash deposits in the joint bank account were credibly explained as agricultural proceeds belonging to the assessee's daughter, supported by uncontroverted affidavits. ITAT ruled that, absent any cross-examination or contrary evidence, such affidavits carry evidentiary weight and cannot be rejected on mere suspicion or for want of mandi receipts. Since the deposits were shown to belong to another identifiable person, the statutory preconditions for invoking s.69 were not satisfied. Case-Laws Income Tax Fri, 28 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782949