https://www.taxtmi.com/caselaws?id=467903 Local sale of agricultural produce cannot be disbelieved merely because formal vouchers or sale records are absent, particularly where an agriculturist is not required to maintain books of account under section 44AA of the Income-tax Act and the Revenue produces no material to show a non-agricultural source. On that basis, the addition relating to agricultural receipts was deleted. An ad hoc 25% disallowance of agricultural expenditure is also unsustainable when it is made only on estimate without evidence of inflation or unexplained funding; once the receipts were accepted, the corresponding expenditure could not be reduced on a presumptive basis. The estimated disallowance was therefore deleted. en-us Thu, 01 Aug 2024 00:00:00 +0530 Tue, 07 Apr 2026 18:06:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467903 Local sale of agricultural produce cannot be disbelieved merely because formal vouchers or sale records are absent, particularly where an agriculturist is not required to maintain books of account under section 44AA of the Income-tax Act and the Revenue produces no material to show a non-agricultural source. On that basis, the addition relating to agricultural receipts was deleted. An ad hoc 25% disallowance of agricultural expenditure is also unsustainable when it is made only on estimate without evidence of inflation or unexplained funding; once the receipts were accepted, the corresponding expenditure could not be reduced on a presumptive basis. The estimated disallowance was therefore deleted. Case-Laws Income Tax Thu, 01 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467903