1980 (11) TMI 77

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....addition of Rs. 20,000 made by the ITO, as income from undisclosed sources to Rs. 7,000. 2. The assessee is an individual, who was previously, carrying on only agricultural activities on lands owned by him and by his brother. During the year of account, he started a sugarcane crusher in which he made a total investment of Rs. 41,250 which included the value of 2,400 quintals of sugarcane receiv....

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.... of his brother and from such lands, he could not have derived so such of agricultural income. After the above discussion, be treated an amount of Rs.20,000 out of the total investment of Rs. 41,250 as the assessee's income from undisclosed sources. 3. On appeal by the assessee, the AAC accepted the assessee's plea regarding sale of silver ornaments and sale of old agricultural produce to the e....

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....e sale bills. With regards to the value of sugar-cane credited to the capital account of the assessee, namely, Rs. 24,000, the assessee has already produced before the authorities below the extract from the Kharsra which showed that there were 5.04 acres of land belonging to the assessee as well as to his brother, which were under sugarcane cultivation. What is credited to the account of the asses....