TMI Blog2023 (1) TMI 1117X X X X Extracts X X X X X X X X Extracts X X X X ..... village/town/city to which that person belongs, even though a huge quantity of aforesaid products has been alleged to have been sold. As regards the reliance placed on 7/12 extracts and land revenue records, we find that the coordinate bench of the Tribunal in Abhijit Subash Gaikwad [ 2015 (5) TMI 971 - ITAT PUNE] held that in absence of fulfilment of fundamental fact that land was used for agriculture, merely mentioning of land as agricultural land in purchase deed or sale deed or even in revenue records cannot establish the case of the assessee that land sold by it was agricultural land. We find that none of the aforesaid aspects have been gone into by the AO while accepting the claim of the assessee that cash deposited is pertain ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act for the assessment year 2015 16 is upheld. As a result, grounds raised by the assessee for the assessment year 2015 16 are dismissed. - ITA no.1561/Mum./2022 & 1560/Mum./2022 - - - Dated:- 2-12-2022 - SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER Assessee by : Shri Hitesh Shah Revenue by : Shri Prabhat Kumar Gupta ORDER PER SANDEEP SINGH KARHAIL, J.M. The present appeals have been filed by the assessee challenging the separate impugned order of even date 15/03/2022, passed under section 263, of the Income Tax Act, 1961 ( the Act ) by the learned Principal Commissioner of Income Tax, Mumbai, [ learned PCIT ], for the assessment years 2012-13 and 2015 16. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... agricultural income and its allowability to the appellant. The assessment order u/s 143(3) rw.s. 147 cannot be set aside merely because the Pr.CIT feels that further enquiry should have been made. On the facts and circumstances of the case the Appellant therefore, prays that the said order passed u/s. 263 being bad-in-law, unwarranted and illegal be quashed. GROUND III: The appellant craves leave to add, to amend, to alter and/or to withdraw any of the grounds at the time of hearing. 3. Since identical issues are involved, therefore, both appeals are taken up together and disposed off by this common order for the sake of convenience. With the consent of the parties, the appeal of the assessee for the assessment year 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urred towards fertilisers, seed, labour, etc., the Assessing Officer ( AO ) vide order dated 24/12/2019 passed under section 143(3) read with section 147 of the Act disallowed 10% of the total agriculture income as unexplained agricultural expenses and added the same to the total income of the assessee. Further, as regards the depreciation on the motor car claimed by the assessee, in absence of any log book maintained for the motor car, the AO disallowed 10% of depreciation as the use of the motor car for the personal purpose could not be ruled out. 6. Subsequently, vide notice dated 03/03/2022, issued under section 263 of the Act revision proceedings were initiated in the case of the assessee on the basis that the AO has not verified th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pted that the source of same is from agriculture income. The learned AR further placed reliance upon the 7/12 extracts annexed with the sale deed forming part of the paper book. 9. On the contrary, the learned Departmental Representative vehemently relied upon the impugned order. 10. We have considered the rival submissions and perused the material available on record. In the present case, based on information from ITS details (AIR) that assessee has deposited cash amounting to Rs. 15,05,000 in his saving bank account, and the nature and source of the said cash deposit was not explained in the return of income, proceedings under section 147 of the Act were initiated. It is the plea of the assessee that the cash deposit made in his sav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cepting the claim of the assessee that cash deposited is pertaining to cash sales of agricultural products. Apart from the documents, as discussed above, no other evidence has been brought on record by the assessee in support of its claim. Further, it is pertinent to note that the cash deposit of Rs. 15,05,000 was claimed as cash sales of agricultural products only during the reassessment proceedings, and therefore it was all the more important for the AO to have thoroughly examined the fresh claim made by the assessee. 13. Thus, in the present case, it cannot be said that the AO has carried out the enquiry/verification that would have been carried out by a prudent officer. The lack of investigation/enquiry by the AO, particularly when t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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