2016 (10) TMI 1255

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....(DR) ORDER PER O. P. MEENA, ACCOUTANT MEMEBR. 1. This appeal is filed by the assessee is directed against the order of the learned Commissioner of Income tax (Appeals)-II, Indore (hereinafter referred to as the ld. CIT (A))dated 30.01.2015. This appeal pertains to Assessment Year 2010-11. This appeal arises out of assessment order dtd. 01.03.2013 passed u/s. 143(3) of Income Tax Act, 1961....

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....n agricultural income at Rs. 15,60,000/-. The AO found from details that the assessee has sold wheat and soyabean to private person out of Mandi @2500/- and Rs. 3,500/- per quintal respectively, whereas maximum sale rate as per Mandi rate was Rs. 1165/- and Rs. 2240/-respectively. Thus the assessee has shown agricultural income of Rs. 1, 15,560/- by higher side as per working given in the chart in....

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....ding of the A.O. 7. Being aggrieved, the assessee filed an appeal before this tribunal. Before us, the learned counsel for the assessee submitted that the assessee is holding 40 acres of irrigated agricultural land and holding of family is 133 acres agricultural land. The assessee has shown on spot sales of vegetables, wheat and soyabean etc. at Rs. 6,00,000/- which included sale to agriculturi....

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....n the basis of confirmation filed by the Assessee`s. 8. The Ld. Senior (DR) vehemently supported the order of lower authorities, and submitted that no books of accounts for agricultural produce is maintained and income is being shown on estimate basis. 9. We have heard the rival submissions and have gone through the orders of the lower authorities and perused the material available on record....