TaxTMI 
TaxTMI 
2006 (4) TMI 209
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...., 1998 in the case of this assessee. As a result of survey, various additions were made when the case was picked up for scrutiny. We will discuss more relevant facts while dealing with each and every ground of appeals. ITA No. 368/Jd/2003; Asst. yr. 1999-2000 3. This is an appeal of the assessee in which five grounds have been taken. Ground Nos. 4 and 5 do not require any adjudication; therefore, the same are hereby dismissed. 4. Ground No. 1 relates to confirmation of an addition of Rs. 2,39,609 made on account of investment done in the construction of shops at village Khinvsar. 5. During the course of survey, the assessee had surrendered an amount of Rs. 8,00,000 on account of investment made in the immovable properties while ....
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....inding of the learned AO but accepted the claim of the assessee that he had sold the agricultural land for Rs. 3,10,000 on 23rd April, 1998 but did not accept the claim that the sale proceeds were utilized in the construction of these shops. The reasons for which was that the assessee, neither during survey nor in his statement recorded on 9th Nov., 1998, took such a stand. 6. We have heard the rival submissions and perused the evidence on record. 7. We agree with the learned CIT(A) that the assessee had received sale consideration of Rs. 3,10,000 on 23rd April, 1998, which is a date prior to or during the impugned investment was made in the construction of shops in question. This fact stands proved by the registered documents, which ....
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....aim at the very fag end of the assessment proceedings, would not be rejected entirely although it has to be deeply scrutinized. Be that as it may, as we have stated above, the version which suits the assessee has to be accepted in the absence of any contrary proof on record. Moreover, the assessee had filed an affidavit before the learned AO which was ignored being not properly raised but this affidavit filed before the AO clearly spelt out the claim of the assessee. This fact goes to support the case of the assessee to some extent. We are of the considered opinion that even though the claim of use of sale proceeds was taken at a later point of time, yet this has a great evidentiary value. The factum of sale stand established and there is n....
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....m made by the assessee. The learned CIT(A) further restricted the disallowance to Rs. 1,00,000. 11. We have heard the rival submissions and perused the evidence on record. 12. The assessee is the owner of the agricultural land whose details are available in the paper book and the same were filed before the AO. The assessee has submitted the complete details of agricultural holding along with the activities carried out by him during the relevant period and the same were duly supported by the revenue records and the certificate issued by the agricultural office. In our opinion when the Revenue has itself accepted the factum of agricultural income, the same cannot be reduced only on whims in the absence of any concrete evidence on record....
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..... 338/Jd/2003 (1999-2000) 14. This is an appeal of Revenue in which two grounds of appeal have been taken, which are extracted hereinbelow: "(i) Deleted the entire addition of Rs. 6,70,935 made on account of understatement of purchase consideration for house at Jodhpur. (ii) Deleted Rs. 50,000 out of addition of Rs. 1,50,000 made on account of treating agricultural income from undisclosed sources." 15. Ground No. 1 relates to deletion of an addition of Rs. 6,70,935 made on account of understatement of purchase consideration for the house situated at Jodhpur. 16. The AO made this addition on the basis of valuation done by sub-registrar for stamp duty purposes. The State Government has fixed the rate of different assessment yea....