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2015 (8) TMI 1153 - ITAT HYDERABAD

2015 (8) TMI 1153 - ITAT HYDERABAD - TMI - Revision u/s 263 - errors in the orders passed by the A.O. under section 143(3) read with section 153A for all the five years - agricultural income was accepted by the A.O. without making necessary enquiries - Held that:- It is observed that in the common questionnaire issued by the A.O. on 30th July, 2012 for all the five years under consideration, the assessee vide point No.43 was required by the A.O. to furnish details of agricultural income along wi .....

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filed by the assessee as proof of agricultural lands owned by him. This enquiry made by the A.O. and reply given by the assessee thereto clearly show that the claim of the assessee for agricultural income as declared in the returns of income for all the five years under consideration was examined by the A.O. after making specific enquiries and after having satisfied himself, the claim of the assessee was allowed by him. In our opinion, there was thus no error in the orders passed by the A.O. un .....

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ld that:- As it is observed that this issue is squarely covered in favour of the assessee by the decision of Kolkata Bench of this Tribunal in the case of M. Dhara & Broters vs. CIT-XVI, Kolkata (2015 (8) TMI 693 - ITAT KOLKATA) wherein it was held by the Tribunal by following the decision of Hon’ble Calcutta High Court in the case of CIT vs. Linotype & Machinery Ltd., (1989 (7) TMI 9 - CALCUTTA High Court) that the failure of the A.O. to initiate proceedings under section 271D for violation of .....

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5/H/2015, 596/H/2015, 597/H/2015 - Dated:- 5-8-2015 - SHRI P.M. JAGTAP AND SHRI SAKTIJIT DEY, JJ. For The Assessee : Mr. P. Muralimohan Rao For The Revenue : Mr. D. Srinivasa ORDER PER BENCH : These five appeals filed by the assessee are directed against the common order dated 25.03.2015 passed by the Principal Commissioner of Income Tax, Central, Hyderabad under section 263 revising the assessments made by the A.O. under section 143(3) read with section 153A of the Act for A.Ys. 2007-2008 to 20 .....

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8,500 2009-2010 2,72,820 2,05,200 2010-2011 1,80,334 2,90,520 2011-2012 2,43,360 3,12,540 2.1. In the assessments completed under section 143(3) read with section 153A vide orders dated 25.03.2013, the total income of the assessee was determined by the A.O. for the years under consideration as under : A.Y. Total Income Agricultural Income 2007-2008 6,74,681 1,26,000 2008-2009 83,76,195 1,48,500 2009-2010 5,33,188 2,05,200 2010-2011 1,80,334 2,90,500 2011-2012 36,06,638 3,12,510 3. The record of .....

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ring agricultural expenditure and sale patties etc. The A.O. while completing the assessment has not verified the issue and failed to bring the agricultural income to tax as income from other sources . ii. It is also seen from the assessment records for the A.Y. 2007-08 to 2011-12, the assessee has raised/repaid loans in cash, violating the provisions u/s.269SS/269T which attracts penalty leviable u/s.271D/271E of the I.T. Act. The same was not examined by the A.O. 3.1. Accordingly, notices unde .....

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lected in the balance sheet. Further, the assessee is mainly an agriculturist and later on he has started civil contracts on small scale. The crops grown in the lands are mainly cotton and Bengal-gram. The assessee admitted the net agricultural income after meeting the expenditure in agricultural operations, as he has not maintained any books in respect of agricultural activities. Further, the A.O. has considered the issue adequately while completing the assessment and accepted the agricultural .....

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n time, the assessee took loans from others to meet the above business exigencies, as he was in urgent need of money for payment to labourers etc. Moreover, the amounts were received by the assessee through entry in the books, is as follows : A.Y. 2007-08 Rs.11,01,060 Received from the HUF of the assessee A.Y. 2008-09 ₹ 2,16,100 Received from I. Kavitha A.Y. 2009-10 Rs.2,14,989 Received from Sri I.V. Nanda Gopal A.Y. 2010-11 Rs.10,66,212 Received from the HUF of the assessee A.Y. 2011-12 T .....

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ng orders under section 143(3) read with section 153A had neither examined nor made any enquiries in proper perspective on both the issues pointed out by him in the notices issued under section 263 and such non-examination made the orders passed by the A.O. erroneous as well as prejudicial to the interests of the Revenue. Accordingly, the said orders were set aside by the Ld. CIT by exercising the powers conferred upon him under section 263 with a direction to the A.O. to redo the same after mak .....

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ncome claimed by the assessee was duly examined by the A.O. during the course of assessment proceedings and it was not a case of non-examination of the said issue as alleged by the Ld. CIT in the notices issued under section 263. In this regard, he invited our attention to the relevant questionnaire issued by the A.O. during the course of assessment proceedings as well as the reply given by the assessee to show that the assessee s claim for agricultural income was duly examined by the A.O. by ma .....

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vs. CIT-XVI, Kolkata (ITA.No.2881/Kol/2013 dated 30.04.2015) wherein it was held that the failure of the assessee to initiate penalty proceedings under section 271D for violation of section 269SS could not be a ground for revision by the Ld. CIT under section 263. He placed on record a copy of the order passed by the Tribunal in the said case and pointed out that while deciding a similar issue in favour of the assessee, the Tribunal has relied on the decision of Hon ble Calcutta High Court in t .....

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eedings on both the issues pointed out by the Ld. CIT in the notices issued under section 263, the assessment orders passed by the A.O. for all the five years under consideration were erroneous as well as prejudicial to the interests of the revenue calling for revision under section 263. 7. We have considered the rival submissions and also perused the relevant material on record. As regards the first error allegedly pointed out by the Ld. CIT in the orders passed by the A.O. under section 143(3) .....

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th the documentary proof of ownership of the land cultivated, agriculture produce sold and agricultural inputs used. In reply filed vide letter dated 24.09.2012 (copy placed at page Nos. 34 to 38 of the paper book), the assessee not only furnished the year-wise details of net agricultural income earned during all the five years under consideration but also pointed out that the said agricultural income was earned by him by cultivating and selling Ground Nuts, Bengal-grams, Sunflower Seeds and Cot .....

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