1978 (6) TMI 103

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... under appeal invested Rs. 40,000 over the construction of a house property. The assessee being questioned, explained that he invested the amount came out of agricultural income and income from house property. The ITO examined the possible saving out of agricultural income and he found that the assessee was able to save only Rs. 8,713. Accordingly, he found that unexplained investment is reduced t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tly he reduced the addition by Rs. 3000. Consequently the addition was confirmed at Rs. 26, 287. The assessee has filed a paper-book containing the statement showing the salary received and income-tax paid since the asst. yrs. 1962-63 to 1974-75, statement showing year-wise agricultural income, copies of certificates granted by Tahsildar, Block Development Officer, Secretary, Agricultural Produce ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ngly the addition should be deleted. The Departmental Representative very strongly supported to the orders of the lower authorities and urged that the saving from agriculture was determined at Rs. 15,000 during the asst. yr. 1974-75 and thus the assessee could not be allowed any further benefit. The Departmental Representative further argued that the assessee has calculated the receipt of income f....