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TMI Blog2019 (2) TMI 1319X X X X Extracts X X X X X X X X Extracts X X X X ..... n order for the sake of convenience as under. The facts of the case are extracted from I.T.A No.421/Viz/2018 of Smt. Mudunuri Sridevi which are common to all the appeals. 2. All the grounds of appeal are related to the addition of Rs. 9 lakhs estimating the income @ Rs. 30,000/- per acre from fish ponds. A survey u/s 133A was conducted in the case of the assessee and the Assessing Officer (AO) found that the assessees are engaged in the pisci culture in 86 acres of fish tanks taken on lease. During the course of survey, the assessee was asked to produce the books of accounts but the assessee failed to produce the same. From the returns of income filed by the assessee, the AO found that the income admitted by the assessee is not commensurat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 20,81,775 28,20,410 35,20,410 3. Aggrieved by the order of the AO, the assessees went on appeal before the CIT(A) and the Ld.CIT(A) confirmed the order of the AO and dismissed the appeals of the assessee. Against the order of the Ld.CIT(A), the assessees are in appeal before this Tribunal. 4. We have heard both the parties and perused the material placed on record. In this case, the AO conducted the survey u/s 133A and observed that the assessee has not maintained the books of accounts and the income admitted by the assessee was less than Rs. 15,000/- per acre of water spread area and reasonable income from fish pond is 15000/- per acre. From the assessment order it is observed by the AO that the reasonable income from fish culture wo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... For ready reference, we extract relevant part of the order of this Tribunal cited supra. 'As per the board circular the estimated income per acre was Rs. 4000/- on water spread area of 70% of the Fish pond for the year 1993-94 and the same cannot be said to be reasonable for the assessment year 2006-07, which is after 13 years. However, with regard to water spread area of 70% remained unchanged. The Ld. CIT(A) confirmed the estimation of income @ Rs. 22,000/- per acre inclusive of bunds and Rs. 13,300/- for 70% of water spread area since the assessee is not maintaining the books of accounts. The Ld. A.R did not place any evidence to disprove the estimation confirmed by the Ld. CIT(A). The revenue also did not place any evidence to show t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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