https://www.taxtmi.com/caselaws?id=783490 The ITAT Amritsar allowed the assessee's appeal and deleted the addition made as unexplained money under s. 69A in respect of cash deposits during the demonetization period. The Tribunal found, on facts, that substantive agricultural activities were carried on by the assessee, generating agricultural income, and that the assessee had earlier withdrawn Rs. 30 lakhs in cash from a sanctioned crop loan. Even assuming part of the withdrawal was used for agricultural expenses, the Tribunal held that the remaining unutilized cash, together with agricultural income up to November 2016, satisfactorily explained the Rs. 26.73 lakhs deposited. en-us Thu, 11 Dec 2025 00:00:00 +0530 Wed, 17 Dec 2025 08:28:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783490 The ITAT Amritsar allowed the assessee's appeal and deleted the addition made as unexplained money under s. 69A in respect of cash deposits during the demonetization period. The Tribunal found, on facts, that substantive agricultural activities were carried on by the assessee, generating agricultural income, and that the assessee had earlier withdrawn Rs. 30 lakhs in cash from a sanctioned crop loan. Even assuming part of the withdrawal was used for agricultural expenses, the Tribunal held that the remaining unutilized cash, together with agricultural income up to November 2016, satisfactorily explained the Rs. 26.73 lakhs deposited. Case-Laws Income Tax Thu, 11 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783490