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2015 (10) TMI 1075 - AT - Income TaxUnexplained income - Held that:- It is clearly accepted at the level of AO as well as CIT(A) that the assessee was engaged in the agricultural activities and was holding agricultural land measuring 69913 sq. metres (as per 7/12) which was purchased by him in parts from 21.6.1989 to December, 1994. The appellant has shown that he was cultivating crops like bajra, maka, etc. and his main source of income, therefore, he was not filing return of income and it is apparent that these facts have not been disputed by the AO nor has he disputed crops produced as per 7/12 submitted to him. Further the ld. CIT(A) has made an estimated basis of calculating estimated income, estimated expenses and estimated household expenses on an overall estimate basis. Looking to the facts that the assessee is aged about 43 years at the close of the AY and he has been carrying on agricultural operations since 1989 which certainly gave him regular earning and after meeting household expenses some savings cannot be ignored. However, this is also a fact that the assessee has not been able to furnish proper details of his savings and earnings in previous years which in normal cases are being rarely maintained by the agriculturists as their income is exempt from tax. Therefore, in the light of the facts and circumstances as well as nature of source of income of the assessee and estimates made by CIT(A) it will be justifiable to reduce the addition from ₹ 6,37,000/- to ₹ 1,00,000/- only and the same is confirmed. The assessee gets part relief. - Decided partly in favour of assessee.
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