Cash deposits in savings bank account treated as long-term ...

Scrutiny on cash deposits as agricultural income: Validity of claims & evidence.

Case Laws Income Tax

November 27, 2024

Cash deposits in savings bank account treated as long-term capital gains from sale of agricultural land. Assessee claimed income from export-quality rose cultivation with brother, relying on report from agricultural college professor. However, report alone insufficient proof of agricultural income. Assessment order passed ex-parte without assessee's participation. CIT(A) order based on AO's remand report. Matter remanded to AO for fresh assessment after proper opportunity to assessee to substantiate agricultural income claim with supporting evidence. Appeal allowed for statistical purposes.

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Cash deposits in savings bank account treated as long-term ...

Scrutiny on cash deposits as agricultural income: Validity of claims & evidence.

Case Laws Income Tax

November 27, 2024

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