TMI Blog2019 (2) TMI 1319X X X X Extracts X X X X X X X X Extracts X X X X ..... refore, respectfully following the view taken by this Tribunal we hold that estimation of income at ₹ 15,000/- per acre is reasonable. Accordingly, we set aside the orders of the lower authorities and allow the appeals of the assessee. - I.T.A.No.421-423/Viz/2018 And I.T.A.No.573-575/Viz/2018 - - - Dated:- 13-2-2019 - SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER For The Assessee : Shri G.V.N.Hari, AR For The Revenue : Shri D.K.Sonowal, CIT DR ORDER Per Bench: These appeals are filed by the assessees against the order of the Commissioner of Income Tax (Appeals) [CIT(A)], Rajamahendravaram for the Assessment Year (A.Y.) 2010-11to 2012-13. Since the issues involved ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pread area on estimation basis. Subsequently, the assessment was taken up for scrutiny and the AO requested the assessees to produce the books of accounts. Since the assessees failed to produce the books of accounts, the AO estimated the income @ ₹ 30,000/- per acre. Accordingly made the addition of ₹ 9,00,000/- in each case. As per the assessments completed by the AO, the returned income originally, the revised return of income and the assessed income in the case of both the assessees are as under : A.Y. Smt.Mudunuri Sridevi Shri Mudunuri Subba Raju Returned Income Revised Return of Income Assessed Income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s than ₹ 15,000/- the AO reopened the assessment u/s 148 and the assessee filed the revised return admitting the income @15,000/- per acre for water spread area. Once, the assessee filed the revised returns of income admitting the income at ₹ 15,000/- per acre on estimation basis, the AO completed the assessment estimating the income @ ₹ 30,000/- per acre stating that the income is estimated in similar cases in this area @Rs.30,000/- per acre. No details of the similar cases were brought on 5 I.T.A. No.421-423/Viz/2018 and 573-575/Viz/2018 Smt. Mudunuri Sridevi and Shri Mudunuri Subba Raju, Bhimavaram record and the AO also did not give any basis for estimating the income at ₹ 30,000/- per acre with the quantity of y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ore, in the absence of books of accounts we hold that ₹ 13,300/- per acre of water spread area appears to be reasonable and accordingly we uphold the order of the Ld. CIT(A). The estimation of water spread area and the bund area is in accordance with the circular issued by the CBDT. Accordingly, we uphold the order of the Ld. CIT(A) and the revenue s appeal on this ground is dismissed. 6 I.T.A. No.421-423/Viz/2018 and 573-575/Viz/2018 Smt. Mudunuri Sridevi and Shri Mudunuri Subba Raju, Bhimavaram In the instant case, the AO has reopened the assessment since the income declared by the assessee was less than ₹ 15,000/- per acre. In response to the notice, the assessees have admitted the income @ ₹ 15,000/- per acre of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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