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2016 (12) TMI 947 - AT - Income TaxAssessment u/s 153A - Undisclosed investment made in acquisition of immovable property - Held that:- This is a fact Shri Naresh Kumar Choudhary is a son of the assessee had filed the return of income and in his premises search operation was carried out. In response to notice issued u/s 153A of the Act, the amount invested in agricultural land in the name of the assessee has been offered for taxation. This is evident from the cash flow statement placed at page 4 of the paper book. In case the addition is sustained in the case of the assessee then it will amount to double taxation on the same amount. The return of income of Shri Naresh Kumar Choudhary for the assessment year 2008-09 has been scrutinized and then the same had been accepted which includes the investment in the agricultural land in the name of the assessee. Agricultural income - Held that:- It is noted from the records that the assessee had purchased the agricultural land on 14-05-2007 at Sri Ganganagar which indicates that the assessee was having agricultural income from Rabi and Kharif crops. The assessee had shown the agricultural income of ₹ 1.06 lacs and the same had also been shown in the return of income. The AO did not accept this amount of ₹ 1.06 lacs as agricultural income of the assessee as the assessee had not produced the bills and vouchers for sale of crops and the same had also been confirmed by the ld. CIT(A). It is also noted from the records that the assessee had submitted the copies of girdawari records establishing the growing of crops from the lands owned by the assessee. It is noted that the assessee had good piece of land i.e. 23 bigha and 3 biswas on which crops are grown by the assessee. It may be taken into consideration that the agricultural income is exempt from tax and there is no need to maintain books of account or bills/ vouchers. Looking to the facts and circumstances of the case, direct to delete the addition of ₹ 1.06 lacs made by the AO.
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