TMI Blog2020 (2) TMI 1596X X X X Extracts X X X X X X X X Extracts X X X X ..... he proceeds emanating from Mandi Parishad. Therfore, the agricultural income claimed from the sale of accumulated produce of two and a half years in between March 2010 to October, 2010 towards cash deposit in the bank account in anticipation to corresponding withdrawals to the agricultural operations to be carried out for earning such volume of agricultural income is rightly disbelieved by the ld. CIT (A), to demonstrate availability of cash for investment in margin money of share trading business. It is evident from the above that for the purpose of claiming the benefit of the agriculture income, it is necessary to produce the material evidence to substantiate claim of agricultural income for the assessment year under consideration. Fur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case, the Tribunal was legally justified in disbelieving the affidavit filed by the father of the assessee who had testified the availability of money as a result of agriculture produce sold and past savings duly deposited in bank account. (iii)Whether, on the facts and in the circumstances of the case, the Tribunal was legally justified in upholding the order of the CIT (Appeals)? 2. We notice from the papers before us that the learned Tribunal has proceeded to decide the appeal of the appellant, namely, Rakesh Kumar Gupta, upholding the order of the Commissioner of Income Tax (Appeals), being the first appellate authority who confirmed the assessment order dated 18th February, 2014, passed by the Income Tax Officer, Ward 2 (4), Ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome Tax (Appeals), in respect of the assessment order dated 18th February, 2014, and the Commissioner of Income Tax (Appeals) upheld the order of the Assessing Officer dated 18th February, 2014, with the following reasons : 6. The learned Tribunal in the judgment and order dated 8th July, 2019, has specifically considered the issue in paragraphs 7.2, 8, 9 and 10 of its order, which read as follows :- 7.2. From the record, we find that the agricultural land was owned by the assessee's father. However, the assessee has not claimed such an agricultural income from his father either in the earlier assessment years or in the succeeding years. Over and above the assessee's father is neither filing return of income nor any s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt case, no account was maintained by the assessee. 9.Following the Hon'ble Jurisdictional High Court in the case of Smt. Prem Sundari vs. CIT , (supra) we uphold the order of the ld. CIT (A) in sustaining the addition of ₹ 14,31,582/. Accordingly, all the five grounds of the assessee on this issue are dismissed. 10. As regards to the addition of ₹ 43804/in respect of the accumulated interest on RD A/c, it is noticed that the aforesaid interest amount was found credited in the RD bank amount in the year under consideration by the AO. Since, the assessee failed to demonstrate on the basis of documentary evidence that the said Interest income was related to earlier years either before the authorities below or before us ..... X X X X Extracts X X X X X X X X Extracts X X X X
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