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2016 (10) TMI 1255 - ITAT INDORECharacterization of income - agricultural income treated as income from other sources - absence of books of accounts in respect of agricultural produce - HELD THAT;- We find that the assessee has shown agricultural income sales which includes being sales of wheat and soyabean shown at higher price as compared to Mandi sales. These sales are in the nature of on spot sales made effected outside Mandi to private parties. The assessee has agricultural land holding at 40 acres of irrigated agricultural land. The assessee has also filed confirmation of parties i.e. agriculturist, to whom sales was made. Therefore, considering the circumstances and in absence of books of accounts in respect of agricultural produce being not maintained and case laws as relied on by the Assessee, it would be reasonable to estimate 30% of the sales amounting to ₹ 6,00,000/- to private parties as non-explained agricultural income which would be worked out to ₹ 1,80,000/-. Accordingly, the addition of ₹ 1,80,000/- is confirmed and the balance addition of ₹ 3,11,590/- i.e. [Rs.4,91,590- ₹ 1,80,000] is deleted. This ground of appeal is therefore, partly allowed.
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