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2021 (3) TMI 1264 - ITAT MUMBAIDisallowance @20% of agriculture income by treating the same as unexplained cash credit - only objection of the AO is that the assessee is having a farmhouse and income was received from the natural activity which is not agricultural activity as per the provisions of the Act - HELD THAT:- AO has merely acted on the basis of surmises and conjuncture in estimating 20% of the total receipt as unexplained cash credit without carrying out any further verification from the buyer/purchasers of these agricultural products/produce. Both of the authorities have failed to discharge their duties properly as none of the parties have brought any substantial material on record to prove that assessee has incurred expenses over and above what has been stated by the assessee. AO has made a ground that some income received by the assessee was in the nature of non-agriculture and substantial too in nature, whereas ld. CIT(A) has gone on a different footing that assessee has incurred expenses to earn the said income which seems to be understated - we are not in a position to sustain the order of the ld. CIT(A) as the same appeared to be a guess work to sustain the addition made by the AO and therefore, we are inclined to set aside the order of first appellate authority and direct the AO to delete the addition. - Decided in favour of assessee.
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