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2016 (5) TMI 853 - AT - Income TaxAddition on account of agriculture income as income from other sources - Held that:- It is undisputed fact that ownership as well as agricultural activities done on own land and on leased land are not in dispute. Only the mater remained to be adjudicated that the agricultural income earned by the assessee. The ld CIT(A) has considered all the submissions made by the assessee, therefore, we confirm the part addition out of addition confirmed by the ld CIT(A) at ₹ 10 lacs in pace of ₹ 13,41,674/-. - Decided in favour of assessee partly Addition U/s 68 - Held that:- The assessee filed requisite evidences/affidavits before the ld Assessing Officer at the time of assessment proceedings. Additional evidences were also filed before the ld CIT(A), on which he has taken remand report from the Assessing Officer. The assessee has proved identity of the depositor, genuineness of the transactions and creditworthiness of the creditor. All the credits in the bank account were out of deposits made with these parties. There are copies of the registered deeds, which cannot be doubted and payments were received by the assessee through banking channel. When the assessee transferring the immovable property through these agreements, there is no reason to doubt on the amount received by the assessee. Therefore, we reverse the order of the ld CIT(A). - Decided in favour of assessee.
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