Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

Sh. Deep Malhotra, Versus DCIT

Agricultural income - Held that:- The evidence and material on record clearly proved that assessee is owner of 142 acres of land which have been cultivated as per girdavri record produced. The claim of the assessee was not rebutted by the AO in his comments to earn agriculture income. The assessee in the Paper Book have also filed certificate from the buyer showing agriculture produced purchased by them and paying the amount through banking channels which is supported by the bank certificate. Th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

land holding held by the assessee, cultivated by the assessee and that sale proceeds of agriculture produce received through banking channels clearly supports the claim of the assessee of earning of the substantial agriculture income therefore, Ld. CIT(A) was not justify in holding that claim of having earned agriculture income cannot be accepted beyond sum of ₹ 10,000/- per acres. Thus we accept the claim of assessee of earning agriculture income @ ₹ 15,000/- per acres as against & .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

of ₹ 6,97,260/-. - Decided partly in favour of assessee. - Cross Objection Nos. 26 & 27/Chd/2015 (In ITA Nos.659 & 660/Chd/2015) - Dated:- 10-3-2016 - SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND MS. RANO JAIN, ACCOUNTANT MEMBER For the Appellant : Sh. Sudhir Sehgal For the Respondent : Sh. Manoj Mishra ORDER PER BHAVNESH SAINI, J.M. Both these Cross Objections by the assessee are directed against the different orders of Ld. CIT(A)-5, Ludhina dt. 27/03/2015 for Assessment year 2009 10 and 201 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

4. In Cross Objection No. 26/Chd/2015, the assessee challenged the order of Ld. CIT(A) in sustaining the addition of ₹ 14,08,200/- on account of agricultural income. 5. The brief facts of the issue are that the assessee claimed agricultural income of ₹ 28,28,260/-. The perusal of the assessment order revealed that the AO has raised the issue of agricultural income disclosed by the assessee at ₹ 28,28,260/-. The assessee was asked to substantiate the claim of agricultural incom .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ity was granted to establish the fact of earning of agriculture income. The assessee owned / cultivated about 142 acres of agriculture land and has earned the agriculture income there from. The details alongwith evidence of holding of agriculture lands and earning of agriculture income were filed. The accounts of the assessee are duly audited and the agriculture income of ₹ 28,28,260/- has been credited in the capital account. All the receipts of the agriculture income credited in capital .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

have been granted by the AO before treating the agriculture income to be income from other source and that necessary evidences now filed in the form of jamabandi and girdavri shows ownership and cultivation of land by the assessee supported by receipts on account of sales through banking channels, forwarded all the documentary evidences to the AO for filing remand report / comments and the AO submitted that assessee has failed to furnish these details before AO at assessment stage however, same .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ransfer of amount from the bank account of Keshav Trading Co., Kanodia Enterprises & Ramesh Chand Keshav Kumar. The land of the assessee were found to be located in Bikaner (Rajasthan) and the registered deed shows that the land is capable of giving only one crop depends upon seasonal rain. Therefore the income of the assessee could be limited as compared to the lands available in Punjab & Haryana. The Ld. CIT(A) found that the claim of assessee that land being cultivated on Hissedari ha .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

rom other source. 7. The appeal was thus allowed partly . 8. On consideration of the rival submissions and material on record, we are of the view that addition is still on excessive side. The evidence and material on record clearly proved that assessee is owner of 142 acres of land which have been cultivated as per girdavri record produced. The claim of the assessee was not rebutted by the AO in his comments to earn agriculture income. The assesee in the Paper Book have also filed certificate fr .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Ld. CIT(A) was justified in holding that entire claim of agriculture income cannot be accepted. However, the materials on record and the huge land holding held by the assessee, cultivated by the assessee and that sale proceeds of agriculture produce received through banking channels clearly supports the claim of the assessee of earning of the substantial agriculture income therefore, Ld. CIT(A) was not justify in holding that claim of having earned agriculture income cannot be accepted beyond su .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     Latest Happenings     ↓  

Notification: Exempts intra state supply of heavy water and nuclear fuels from DAE to NPCIL

Notification: Seeks to amend notification No. 12/2017-CT(R) to exempt right to admission to the events organised under FIFA U-17 World Cup 2017

Notification: Seeks to amend notification No. 11/2017-CT(R) to reduce CGST rate on specified supplies of Works Contract Services.

News: Tax on fuel more important for a dry state like Gujarat

Notification: Exempts intra state supply of heavy water and nuclear fuels from DAE to NPCIL

Notification: Seeks to amend notification No. 12/2017-UTT(R) to exempt right to admission to the events organised under FIFA U-17 World Cup 2017

Notification: Seeks to amend notification No. 11/2017- UTT(R) to reduce CGST rate on specified supplies of Works Contract Services

Notification: Exempts inter-state supply of heavy water and nuclear fuels from DAE to NPCIL

Notification: Seeks to amend notification No. 09/2017-IT(R) to exempt right to admission to the events organised under FIFA U-17 World Cup 2017

Notification: Seeks to amend notification No. 08/2017-IT(R) to reduce CGST rate on specified supplies of Works Contract Services

Highlight: For an ayurvedic medicine to be classified under Chapter 30 has to pass the test whether it is for cure of any disease. If the same is only meant for care, then such product would not fall under medicament.

Notification: All Industry Rates of Duty Drawback Schedule

Notification: The Customs and Central Excise Duties Drawback Rules, 2017

Highlight: Demand of interest - the period of limitation that applies to a claim for the principal amount should also apply to the claim of interest thereon.

Highlight: Government issues new notifications under CGST, IGST and UTGST to grant fresh exemptions in respect of certain supplies.

Circular: Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 117 of the Central Goods and Services Tax Rules, 2017

Forum: 3B mistake

Forum: Excise duty credit on finished stock at additional place of business.

Forum: Input tax credit

Forum: Cess paid instead of SGST

Forum: Manpower Service provider

Forum: Construction of single unit bungalow

Forum: Duty Drawback & Input Credit - under GST

Article: SIMPLIFIED E-WAY BILL UNDER GST

Article: SERVICES UNDER REVERSE CHARGE UNDER GST REGIME

Highlight: Rate of exchange of conversion of the foreign currency with effect from 22th September, 2017 - Notification

Highlight: Companies (Acceptance of Deposits) Second Amendment Rules, 2017 - Notification

Highlight: Implementing Electronic Sealing for containers by exporters under self-sealing procedure prescribed by Circular 26/2017-Cus dated 1st July, 2017 and Circular 36/2017 dated 28 th August, 2017. reg. - Circular

Highlight: Amendment to Paragraph 2.72 (b) of the Handbook of Procedures of the Foreign Trade Policy (FTP) 2015-20 - Public Notice

Notification: Amendment in Appendix 3 (SCOMET items) to Schedule- 2 of ITC (HS) Classification of Export and Import Items 2012

Circular: Amendment to Paragraph 2.72 (b) of the Handbook of Procedures of the Foreign Trade Policy (FTP) 2015-20

Notification: Companies (Acceptance of Deposits) Second Amendment Rules, 2017

Notification: Rate of exchange of conversion of the foreign currency with effect from 22th September, 2017

News: Exchange Rate of Foreign Currency Relating To Imported and Export Goods Notified

Circular: Promote the officers of the Indian Revenue Service (Customs and Central Excise) to the grade of Principal commissioner of customs, GST & CX

Circular: Allocate the charges amongst the Members of the Central Board of Excise and Customs

Circular: Strategy for audits in 2017-18 consequent to GST - Audit by Central Excise and service Department to continue for the accounting year 2016-17 and for the past period

Circular: Appoint the IRS (C&CE) officers as Principal Commissioner (Revision Application) and ex-officio Additional Secretary

Circular: Time limit for filing intimation for composition levy under Rule 3(1) of the CGST Rules, 2017 extended to 16-8-2017

Circular: Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017

Circular: C.B.E. & C. Advisory on Customs related matters on introduction of Goods and Services Tax regime

Circular: List of Reduced Tax Liabilities under GST regime in comparison to present combined Indirect Tax rates

Circular: Works Contract for construction of Flats, Complex Builders to pass on GST benefit to buyer otherwise anti-profiteering provisions of Section 171 of GST Act to apply

Circular: Clarification regarding applicability of section 16 of the IGST Act, 2017, relating to zero rated supply for the purpose of Compensation Cess on exports Regarding.

Circular: Clarification on Inter-state movement of various modes of conveyance, carrying goods or passengers or for repairs and maintenance- regarding

News: RBI Reference Rate for US $

Highlight: Addition u/s 23(1)(a) - deemed rent - once the property is let out and at any point of time this remained vacant during the same cannot be brought to tax under the head House properties income.

News: Haryana constitutes screening committee on anti-profiteering

Highlight: Valuation of imported goods - it is necessary to re-examine the matter of both license agreement as well as supply contract simultaneously, to see if the enhanced royalty was in the guise of adjustment of the price of components.

Notification: Levy of anti dumping duty on New/unused pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless tyres) having normal rim dia code above 16 originating in, or exported from China PR



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version