https://www.taxtmi.com/caselaws?id=196958 The Tribunal partly allowed the appeals of the assessees and dismissed the appeals of the Revenue. It directed the Assessing Officer to estimate agricultural income based on 80% of the standard yield reported by NHB and ICAR, without further deductions for contractual farming. Additionally, the Tribunal held that the estimated agricultural income should be presumed to have been used for acquiring the assets found during the search, thus no additional addition for unexplained investment is warranted. The findings apply mutatis mutandis to the appeals of other family members of the Bagwan Group. en-us Wed, 17 May 2017 00:00:00 +0530 Tue, 19 Dec 2017 23:18:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196958 The Tribunal partly allowed the appeals of the assessees and dismissed the appeals of the Revenue. It directed the Assessing Officer to estimate agricultural income based on 80% of the standard yield reported by NHB and ICAR, without further deductions for contractual farming. Additionally, the Tribunal held that the estimated agricultural income should be presumed to have been used for acquiring the assets found during the search, thus no additional addition for unexplained investment is warranted. The findings apply mutatis mutandis to the appeals of other family members of the Bagwan Group. Case-Laws Income Tax Wed, 17 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196958