2018 (10) TMI 1034

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....(A) has erred in upholding the income of Rs. 5,20,830/- on account of alleged income from money lending. 2. It was proved before the Ld. Authorities that the assessee had provided the financial assistance for very short period to the small agriculturalist for regularizing the KCC accounts and no interest was earned by the assessee. All the agriculturalist have confirmed the same by the affidavit and the statements given before the Ld.A.O. 3. The addition made by the Ld.A.O may please be deleted. 4. The assessee prays to alter, amend, add or delete ant of the grounds of appeal" 3. Brief facts of the case as culled out from the records are that assessee is an individual having only source of income from agriculture. The income tax ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... was confirmed by the Ld.CIT(A). 4. Aggrieved assessee now is in appeal before the Tribunal. 5. At the outset Ld. Counsel for the assessee reiterated the submissions made before the lower authorities and submitted that there was sufficient source of cash deposited on various dates at bank account and no addition was called for unaccounted investment and he also submitted that no interest income was earned. 6. Per contra Ld. Departmental Representative vehemently argued and supported the orders of lower authorities and also pointed out the details filed by the assessee at Page 1(e) to 1(i) of the paper book providing complete person wise details of amounts given and received back during the year. 7. We have heard rival contentions and pe....