https://www.taxtmi.com/caselaws?id=450521 ITAT Mumbai ruled in favor of the assessee regarding additions made for undisclosed income. The tribunal held that agricultural income of Rs.6,000 per acre from 33.24 acres of land in Rajasthan was reasonable and not excessive, supported by land records and APMC receipts. For AY 2013-14 to 2018-19, additions treating agricultural income as undisclosed sources were deleted. For AY 2019-20, the Rs.14 lakh addition was also deleted as Rs.12 lakh was explained through past savings from disclosed income, and Rs.2 lakh was supported by sister's affidavit. No incriminating evidence was found during search operations. en-us Thu, 22 Feb 2024 00:00:00 +0530 Thu, 07 Mar 2024 09:08:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450521 ITAT Mumbai ruled in favor of the assessee regarding additions made for undisclosed income. The tribunal held that agricultural income of Rs.6,000 per acre from 33.24 acres of land in Rajasthan was reasonable and not excessive, supported by land records and APMC receipts. For AY 2013-14 to 2018-19, additions treating agricultural income as undisclosed sources were deleted. For AY 2019-20, the Rs.14 lakh addition was also deleted as Rs.12 lakh was explained through past savings from disclosed income, and Rs.2 lakh was supported by sister's affidavit. No incriminating evidence was found during search operations. Case-Laws Income Tax Thu, 22 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450521