https://www.taxtmi.com/caselaws?id=469762 Cash deposits were held not to justify an addition under section 68 where the assessee supported the source with documentary evidence showing sale of agricultural land on behalf of relatives, followed by transfer of the proceeds to the real owners' accounts. The record established that the money originated from agricultural land transactions, which were treated as outside the definition of capital asset under section 2(14), and the revenue did not rebut that evidentiary trail. On those facts, the explanation for the deposits was accepted and the addition under section 68 was deleted. en-us Mon, 10 Mar 2025 00:00:00 +0530 Thu, 02 Jul 2026 20:38:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469762 Cash deposits were held not to justify an addition under section 68 where the assessee supported the source with documentary evidence showing sale of agricultural land on behalf of relatives, followed by transfer of the proceeds to the real owners' accounts. The record established that the money originated from agricultural land transactions, which were treated as outside the definition of capital asset under section 2(14), and the revenue did not rebut that evidentiary trail. On those facts, the explanation for the deposits was accepted and the addition under section 68 was deleted. Case-Laws Income Tax Mon, 10 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469762