2010 (9) TMI 1103

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.... on account of low drawings towards personal expenses. 3. The facts relating to the issue are stated in brief. The family members of the assessee owned 41.605 acres of land as detailed below: S.No Patta No. Name of the land holder Extent of land held 1 416 M.T.V. Ratnakar 11.00 acres 2 603 M.V.A. Sriramjee 11.94 acres 3 650 M. SitaMahalakshmi 4.69 acres 4 681 M.N. Chalamaiah 4.39 acres 5 604 M. Sesharatnam Karuna W/o Ratnakar 3.465 acres 6 682 M.T.V.M. Ratnakar 6.12 acres     Total 41.605 acres   It was stated that the assessee, his father and his brother are jointly cultivating the above said agricultural lands and the in....

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....der was reduced to Rs. 10,000/- in the remand report, without having any evidence in this regard. 5. On the other hand the learned Departmental Representative submitted that the assessee has claimed to have received income in respect of agricultural land held in the name of female members of the family and the same is not acceptable because the balance sheet of the assessee does not reflect the names of family members as creditors. Accordingly he contended that the learned CIT (A) is correct in restricting the agricultural income only to the extent of the land standing in the name of the assessee. Further the Learned D.R submitted that the father of the assessee has admitted agricultural income of Rs. 10,000/- per acre in the assessment ....

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....mitted that he was giving 43 bags of paddy per acre to the family of the assessee and according to the assessee the said statement corroborates the income disclosed by the assessee, his father and his brother. However the fact remains that the A.O has not accepted the income disclosed by the assessee and during the course of assessment proceedings, he has estimated the income at Rs. 15,000/- per acre. Hence, we are of the view that it would be reasonable to sustain the estimate of Rs. 15,000/- per acre made during the course of assessment proceedings. Accordingly we direct the Assessing Officer to arrive at the agricultural income on 41.605 acres and distribute the same equally among the assessee herein, his father Shri M.V.A Sreeramji and ....