9911796707
TMI Blog2022 (9) TMI 237X X X X Extracts X X X X X X X X Extracts X X X X ..... unds of appeal :- 1. That on the facts and in the circumstances of the case and in law the Ld. CIT(A) grossly erred in confirming the addition of Rs 4,62,792/- made by the Assessing Officer as deemed income under the head House Property without appreciating the fact that the land was used for the agriculture/horticulture business and hence, it shall be treated as an exempted income u/s 10(1) of the Income Tax Act, 1961. 2. That on the facts and in the circumstances of the case and in law the Ld. CIT(A) grossly erred in confirming the actions of the Assessing Officer without appreciating the fact that during the Assessment Year 2012-13 and earlier years, the appellant has earned income from its horticulture activity and claimed the same ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ill cop which was beneficial for the revenue was only accepted by the authorities, but the significant facts were ignored. 5. The Appellant craves leave to add, alter, amend and/or withdraw any of the grounds or ground of appeal either before or at the time of appeal hearing. 3. Briefly stated the facts as culled out from the records that the assessee is a private limited company. Income declared for AY 2014-15 at Rs.6,75,580/- in e-return furnished on 27th Sept.,2014. Case selected for scrutiny followed by serving of notices u/s. 143(2) and 142(1) of the Act. Certain details were called for. After considering the same, the ld. AO made disallowance u/s. 14A of the Act/r.w.r.t Rule 8D of the IT Rules, 1962 at Rs.51,574/-. The ld. AO als ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unicipal Corporation, New Delhi placed at pages 15-16 of P.B, I note that type of property is "farm house" , the area of the plot/land 10,688.00 sq.mtr and constructed area is 203.00 sq.mtr. As regards the claim of assessee that income from agriculture is regularly shown, I notice that for FY 2011-12 horticulture income of Rs.45,150/- is shown, but for the year under appeal NIL income is shown from horticulture work. As regards expenses incurred on the said farm house, I note that Rs. 2,86,491/- is incurred during the FY 2011-12 as against horticulture agricultural income of Rs.45,150/- earned during the year. As far year under appeal is concerned against NIL income from horticulture Rs.5,80,380 is incurred, which includes electricity expen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed that the total area of said land is 1 0,688 Square Mtrs and out of which 10.485 Square Mtrs is vacant land and on remaining area 203 Square Mtrs, a farmhouse is constructed which is less than 2% of the entire plot which was used for dwelling house and storage house for the purpose of making agricultural activities. However on verification from the receipt of property tax in respect of the said property, it is seen that the type of the property is mentioned as ' Farm House'. The document issued by the Delhi Municipal Corporation mentions the vacant land use as "Farmhouse-Residential" and the property details has address of "C- 23 Asola Homes Welfare Assco. Asola, New Delhi-11 0030" . Therefore it is clear that the said property is not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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