2022 (2) TMI 981

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....se in confirming the addition of capital introduced by the appellant as unexplained cash credit u/s. 68 of the Act to the extent of Rs. 12,00,000/-. (2) The learned CIT(A) has erred both in law and on the facts of the case in confirming the addition of rental income to the extent of Rs. 20,000/-. (3) Both the lower authorities have passed the orders without properly appreciating the facts and they further erred in grossly ignoring various submissions, explanations and information submitted by the appellant from time to time which ought to have been considered before passing the impugned order. This action of the lower authorities is in clear breach of law and principles of Natural Justice and therefore deserves to be quashed. (4) The ....

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....rental income amounting to Rs. 30,000/-. 4. Being aggrieved by the Assessment Order, the assessee filed appeal before the CIT(A). The CIT(A) partly allowed the appeal of the assessee. 5. The Ld. A.R. submitted that the assessee has given details before the CIT(A) which was totally ignored by the CIT(A). The Ld. AR further submitted that the Assessing Officer as well as the CIT(A) never asked the assessee to file the evidences relating to agricultural income. The Ld. A.R. further submitted that during the course of assessment proceedings the assessee explained the Assessing Officer that the introduction of capital was sourced out of its own funds which was also accumulated through agricultural income. The Ld. A.R. submitted that as the agr....