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2022 (5) TMI 830 - AT - Income TaxUnexplained cash credit/unexplained income - CIT-A confirming the addition made by the AO on account of cash deposited by the assessee in the bank account - HELD THAT:- Admittedly, there was no doubt raised by the authorities below with respect to the lands held by the assessee in his individual capacity and as joint ownership. Therefore, the possibility of agricultural income cannot be ruled out in entirety merely on the reasoning as pointed out by the CIT-A, which have been reproduced somewhere in the preceding paragraph. Though, the reasons given by the learned CIT-A appears to be valid for not having agricultural income in the hands of the assessee, but such reasoning cannot overlook the fact of the land held by the assessee in his individual and joint owner capacity. Thus entire amount of cash deposit of ₹9.22 lakhs cannot be treated as income from other sources. In our considered opinion, justice shall be served to the assessee as well as to the revenue if the sum of ₹5 lakhs out of the total cash deposit of Rs. 9.22 lakhs is treated as income from agricultural operations and the remaining amount as income from other sources. Hence the 1st ground of appeal of the assessee is partly allowed. With respect to the addition of ₹ 26,59,255.00, we note that the assessee has filed the additional evidences before us which are available on record. We have perused the additional evidences and note that the consideration of these additional evidences at the level of the AO is essential. Accordingly, we exercise our power granted under rule 29 of ITAT rules and admit the additional evidence filed by the assessee. Thus in the interest of justice and fair play, we remit the issue to the file of the AO for fresh adjudication as per the provisions of law and after considering the additional evidences filed by the assessee. Hence the 2nd ground of appeal of the assessee is allowed for the statistical purposes.
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