Tag Archives: Income-tax Officer Vs Shri Abraham Varghese Charuvil

Black money received from sale of Agriculture Land is also not Taxable ; ITAT

By | April 30, 2017

Facts of the Case The assessee was asked to explain the source of cash deposits in Federal Bank amounting to Rs.80 lakhs. The assessee vide letter dated 30/11/2015 stated that he and his wife had sold agricultural for Rs.70,79,500/- which was deposited in Federal Bank and balance cash deposits are out of agricultural income. The… Read More »