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2020 (1) TMI 221 - ITAT JAIPURReopening of assessment u/s 147 - cash deposits represent income from undisclosed sources - HELD THAT:- Both the persons appeared before the AO as witness, shown documentary evidence of holding the agricultural land and their income from the agricultural land held by them hence shown their capacity to make payment for the purpose of buying agricultural land. Also in support of the said transaction the assessee has submitted the following documents - Copy of affidavit, Copy of Jamabandi towards proof of capacity and Copy of statement accepted the fact that amount was given to the appellant for purchase of his agriculture land. Perusal of the above documents suggest that assessee has discharged his onus to prove the identity and creditworthiness of the lender. No merit in the addition so made by the A.O. Income from other sources - sale of agricultural land - HELD THAT:- The claim of assessee that assessee owned 10 bigha of agriculture land is genuine and it cannot be said that the land hold by the assessee is not sufficient to generate quantum of income disclosed. Also found that Shri Banwari accepted the fact that he cultivated the agriculture land (approx. 10 bigha) belonging to Shri Laxman Singh Khokar. He annually paid against the agriculture land amounting to ₹ 1,24,000/- and ₹ 6,800/- against falling tree. No merit in the action of the A.O. in making addition by considering the same as income from other sources. Accordingly, direct to delete the same.
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