Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (7) TMI 607 - AT - Income TaxAddition u/s 68 - agriculture land income holding the same as 'income from other sources' - Held that:- The documentary evidences of the revenue officers in case of assessee, as noted above when produced before authorities below, should not have been ignored. Further, it is a fact that assessee has merely small interest income on savings. The assessee has no other income except agriculture income. Therefore, there is no material on record to show any vested interest or motive with the assessee to declare agriculture income higher than the actual amount. The authorities below have made and confirmed the addition of ₹ 18 lcs on account of 'income from other sources' under section 68/69 but authorities below have failed to point out as to what income is earned by assessee from “other sources” because assessee has no other source of income except the agriculture income. The interest is from specified source and ascertained. Therefore, in the absence of any material on record that what is the ‘other income’ of the assessee except that of agriculture income, in the case of Shri Jarnail Singh (Karta) (2008 (5) TMI 280 - PUNJAB AND HARYANA HIGH COURT) clearly applies in favour of the assessee. This fact is further strengthened by the fact that even in earlier years, assessee has shown the agriculture income. Therefore, there is no question of assessee earning any 'income from other sources' other than the agriculture income. - Decided in favour of assessee.
|