ITA Nos.119-120/Rjt/2023 AY 15-16

Parties Involved

Facts Summary

The assessee filed his return of income for assessment year 2015-16, declaring total income at Rs.1,74,410/-. The assessing officer noticed that the assessee had shown agricultural income of Rs.39,51,000/- in his return of income. However, the assessing officer did not find any evidence of agricultural land in the assessee's name or any evidence of agricultural activity. Therefore, the claim of agricultural income was not accepted, and the income was added to the total income of the assessee as unexplained cash credit. The assessee appealed against this order, and the Commissioner of Income-tax (Appeals) partly allowed the appeal. The assessee further appealed to the Income Tax Appellate Tribunal, which allowed the appeal and deleted the addition made by the assessing officer.…

Legal Issues

• 1. Whether the addition of Rs.39,52,727/- made by the assessing officer is justified?
• 2. Whether the addition of Rs.39,51,000/- made by the assessing officer is valid?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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