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HomeDirect TaxCash Deposit Explained as Land Sale Advance: Income Tax Dept. Accepts Return...

Cash Deposit Explained as Land Sale Advance: Income Tax Dept. Accepts Return After Detailed Reassessment

Direct Tax

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By Mariya Paliwala
Cash Deposit Explained as Land Sale Advance: Income Tax Dept. Accepts Return After Detailed Reassessment

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The Income Tax Department has accepted the returned income of ₹1,50,423 filed by Ajit Singh for Assessment Year (AY) 2010–11, after examining cash deposits of ₹77.73 lakh linked to agricultural land transactions. The reassessment order dated 16 February 2026 was passed under Sections 147 read with 263 and 144B of the Income-tax Act, 1961, following…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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