https://www.taxtmi.com/caselaws?id=466868 Cash deposits contemporaneous with registered sale deeds were held to be custodial receipts of agricultural land sale proceeds where documentary sale deeds, matching bank statements, absence of beneficial gain, and subsequent transfers to sellers showed no beneficial ownership by the depositor; consequence: deposits were not taxable as unexplained income under the deeming provisions and additions were deleted. Smaller contemporaneous deposits supported by jamabandi and the family's sole agricultural income were accepted as agricultural receipts, with corresponding additions deleted and the appeal allowed on merits. en-us Mon, 24 Feb 2025 00:00:00 +0530 Mon, 23 Feb 2026 19:00:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466868 Cash deposits contemporaneous with registered sale deeds were held to be custodial receipts of agricultural land sale proceeds where documentary sale deeds, matching bank statements, absence of beneficial gain, and subsequent transfers to sellers showed no beneficial ownership by the depositor; consequence: deposits were not taxable as unexplained income under the deeming provisions and additions were deleted. Smaller contemporaneous deposits supported by jamabandi and the family's sole agricultural income were accepted as agricultural receipts, with corresponding additions deleted and the appeal allowed on merits. Case-Laws Income Tax Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466868