2007 (11) TMI 349

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....agricultural income of Rs. 2,48,427. During the course of assessment proceedings, the figure of agricultural income was substituted by Rs. 1,36,047 as the amount of Rs. 2,48,427 represented gross agricultural receipts. In support of agricultural income, the assessee had filed copies of Girdawari report, sale receipts and electricity bills. A statement of the assessee was recorded wherein he deposed that he owned 57 Bighas of land out of which 20 Bighas were irrigated. It was also stated that the family of the assessee and the assessee were staying at Mumbai and the agricultural activities are got done through labourers. It has been noted by the AO that the, assessee sold 60 quintals of Sarson for a sum of Rs. 90,627 to Shri Chittarmal. The ....

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....return of income for the year ending 31st March, 2003 on 29th Sept., 2003 along with the computation of total income and a statement of affairs for the year ending 31st March, 2003. The assessee has shown the agricultural income of Rs. 47,600 and interest income of Rs. 50,120 and has shown the stock of agricultural produce amounting to Rs. 35,600. The copies of the same have been enclosed as Annex, l. The detail of closing stock of the mustard (Sarson) and other items as on 31st March, 2003 is shown as under: Mustard   10 qtls.    Rs. 15,000 Gawar     10 qtls.     Rs. 7,100 Moth      18 qtls.    Rs. 13,500    &....