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2009 (8) TMI 629 - HC - Income TaxUnexplained Investment- The assessee explained that the deposits were his accumulated agricultural income from the year 1981 onwards and produced his books of account from the financial year 1978-89 and a number of documents and certificates from the concerned state government officers. The Assessing Officer took the view that the books of account produced by the assessee should be rejected as the assessee had not maintained any stock register thus the income of assessee is unexplained income u/s 69 of the Act. Tribunal held that assessee could not have any agricultural income. Held that- the accounts not rejected only on the basis of that stock register is not maintained. The Tribunal also failed to consider the issue on the basis of the books of accounts of the assessee and the documents and certificates filed by the assessee. Thus, the order of Tribunal were set aside and the matter was remitted back for fresh decision.
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