Farmer sold fruits and vegetables at APMC, deposited cash in bank account, but faced notice for unexplained large deposits; ITAT Bangalore gives relief, accepts land records and sale bills as proof
The department questioned the farmer’s financial activities after he deposited large sums of cash into his bank account. (Image for representative purpose only) Is your income from agricultural sources taxable? A farmer from Bengaluru who grew vegetables and fruits and sold them to Agricultural Produce Market Committee (APMC) for cash faced a tax notice for...
