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2020 (12) TMI 978 - ITAT MUMBAIAddition u/s 68 - unexplained cash deposits - agricultural income as not genuine - AR emphasized that the A.O and CIT(A) have erred in denying the sources of agricultural income generated out of the agriculture activities - HELD THAT:- There is no doubt on the genuineness of purchase of agricultural lands but the only doubt the A.O has raised in the assessment proceedings that the assessee could not substantiate the agricultural activities with evidences. The Ld. AR reiterated the submissions made before the lower authorities and explained that the assessee has acquired the agricultural lands in April 2007 and constructed polyhouse by obtaining loan from Syndicate Bank. Information submitted by the assessee cannot be disbelieved. But the fact remains though the assessee has filed the details, there are no observations of the A.O nor the assessee could explain that the expenses and income allocated to the assessee share are not considered in the M/s Sankalp farm. Further, the assessment records of M/s Sankalp farms are not available with the A.O. Therefore, to meet the ends of justice, We provide one more opportunity to the assessee to establish and clarify the income generated in agricultural activities and the expenses incurred Accordingly, we set aside the order of the CIT(A) and remit the entire disputed issues to the file of assessing officer for limited purpose to verify and examine the claims. Appeal of the assessee for statistical purposes.
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