1979 (5) TMI 67

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....rate book showing the receipts in respect of the agricultural income and agricultural expenses. The net agricultural income was Rs. 40,252. This was claimed by the assessee to represent the net agricultural income. The ITO observed that though the agricultural income was supported by entries in the accounts, they were not supported by relevant sale bills of the produce. The ITO taking note of the fact that the total land holding of the assessee was about 31 acres, estimated the net agricultural income at Rs. 20,252 as unexplained and included the same as the assessee's income from "other sources". Proceedings under s. 271(1)(c) of the Act for concealment of income were also initiated. Overruling the objections raised by the assessee that th....

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....act that the appeal could not be filed within time. The assessee had filed only a revision petition before the Commissioner of Income-tax. The learned departmental representative vehemently urged that for the reasonings found in the order of the Commissioner, dt. 24th June, 1976, passed in that revision petition the assessee's plea cannot be countenanced. We have perused the said order of the Commissioner passed under s. 264 of the Act. The Commissioner has referred to the agricultural income alleged to have been admitted by the assessee for the subsequent asst. yr. 1974-75 during which it appears that some lands in the name of the assessee's wife were sold away. We find that at the time when the ITO made the assessment, as seen from the as....

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....ome shown in the books of the assessee at Rs. 40,252 represented the concealed income of the assessee. The very fact that the ITO himself has held that the assessee was having a holding of about 31 acres of agricultural lands and that they would have yielded an estimated income of Rs. 20,000, showed that the claim of agricultural income is not Per se bogus. As discussed above, the assessee has been receiving agricultural income in prior years. For 67-68, the assessee's net agricultural income was accepted by the Tribunal at Rs. 37,500. In later years there has been variance in the net agricultural income quite naturally. The agricultural income would necessarily vary from year to year depending upon the conditions of the monsoon, the yield ....