ITO v. Kulwinder Singh. (2018) 169 ITD 577 / 192 TTJ 61 / 163 DTR 23 (SMC)(Chd) (Trib.)

S.68:Cash credits -Deposit of sale consideration of agricultural land in savings bank account can not be assessed as cash credits . [ S.2(14)(iii) ]

Dismissing the appeal of the revenue , the Tribunal held that , Deposit of sale consideration of agricultural land in savings bank account can not be assessed as cash credits, as the assessee has demonstrated that the population of the village in which the land is situated is less than 10000 people ( AY.2009-10)