Cash Deposit arising out of Sale of Agricultural Land cannot be treated as Unexplained: ITAT [Read Order]

Cash Deposit - Sale of Agricultural Land - Unexplained - ITAT - Taxscan

The Income Tax Appellate Tribunal (ITAT), Chennai bench, while allowing an appeal of the assessee, held that the cash deposit arising out of sale of agricultural land cannot be treated as unexplained for the purpose of section 68 of the Income Tax Act, 1961. The Assessee, Mr. V Nagarajan, is an individual and filed his…

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Mr. V. Nagarajan vs The Income Tax Officer

Counsel for Appellant:   Mr. S. Sridhar & Mr. N.Arjun Raj

Counsel for Respondent:   Mr. P. Sajit Kumar

CITATION:   2022 TAXSCAN (ITAT) 511

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