https://www.taxtmi.com/caselaws?id=752133 ITAT Surat ruled in favor of a small farmer whose agricultural income was treated as income from other sources under Section 56 due to lack of maintained books of accounts and supporting vouchers. The tribunal held that small, poor farmers cannot be expected to maintain full accounting departments like large farmers with substantial holdings and infrastructure. The assessee provided sufficient evidence including sugar mill statements, cooperative society bills, and bank statements showing cash deposits from agricultural income and previous withdrawals. The tribunal found the source of cash deposits adequately proven and deleted the addition. en-us Mon, 08 Apr 2024 00:00:00 +0530 Fri, 03 May 2024 19:06:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752133 ITAT Surat ruled in favor of a small farmer whose agricultural income was treated as income from other sources under Section 56 due to lack of maintained books of accounts and supporting vouchers. The tribunal held that small, poor farmers cannot be expected to maintain full accounting departments like large farmers with substantial holdings and infrastructure. The assessee provided sufficient evidence including sugar mill statements, cooperative society bills, and bank statements showing cash deposits from agricultural income and previous withdrawals. The tribunal found the source of cash deposits adequately proven and deleted the addition. Case-Laws Income Tax Mon, 08 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752133