TaxTMI 
TaxTMI 
2022 (5) TMI 362
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....al found in the case of appellant nor there is a reference in the satisfaction note. As, no material is brought on record which justifies issuance of the notice u/s 153C of the Act nor the satisfaction recorded refers to the same, therefore, impugned notice as well as the assessment order passed u/s I53C should be considered as bad in law and liable to be quashed. II. Approval U7s 153D of the Act: 2. The Id. CIT(A) has erred in upholding the order of the assessing officer without appreciating the fact that approval u/s. 153D of the Act had not being referred in the body of the assessment order and same is not a curable defect, therefore the order passed should be treated as null and void liable to be quashed. V 3. Non-mention of approval u/s 153D in the body of assessment order is violation of Clause 9 of Manual of Office Procedure Volume II Technical February 2003 issued by Directorate of Income Tax on behalf of Central Board of Direct Taxes, Department of Revenue, Government of India. III. Agricultural income Rs. 1.36.580/-: 4. The Id CIT (A) erred in confirming the addition of agriculture income declared in return of income filed u/s 139 as well as u/s 153C of the....
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....rd with regard to agricultural income we are referring to A.Y. 2011-12 where order of the Assessing Officer is recorded as under :- Vide notice u/s 142(1) dated 07.12.2018, the following query was raised to assesses, and the date of compliance was fixed as on 11.12.2018 at 11.45 am: "It is observed that you have shown following Agriculture Income in various assessment years: AY 2011-12 2,42,860 AY 2013- 14 6,58,690 AY 2014- I5 6,79,680 AY 2015-16 6,82,450 AY 2016-17 6,98,251 AY 2017-18 6,99,490 In regard to above, please submit as under: a) Please explain as to where your Agricultural Land at which such activity is earned out is situated, with copy of registered agreement. b) Please explain measurement area of said land. c) Please submit relevant evidences to prove that agricultural activity has been carried out at said land. Please explain the type of agriculture crop in each year and quantity of agriculture produce. d) Please submit copies of bills for seeds/fertilizers/water bill/electricity bill/labour bills etc. e) Please explain the party-wise details of persons to whom sold agriculture produce is sold, rate of sale, and mode of payment rece....
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....cultural land in itself does not prove that agricultural income has accrued to the assessee. Hence, the accrual of agricultural income cannot be proved till the evidence of agricultural income are not submitted. 4.2 The assessee's representative has further mentioned that the agricultural activity is done on contractual basis and the assessee gets 2/3 of net revenue proceeds after reducing all costs incurred from gross agricultural produce. However, the assessee has failed to submit any evidence in respect of the expenses incurred under the pretext that the agricultural are done through various contractors". The assessee has failed to submit any detail in respect of the gross agricultural produce, expenses incurred or details of the contractors through whom the agricultural activity is carried out. The assessee has also failed to submit expenses incurred in respect of water as well as electricity. In absence of the details of expenditure, the assessee has also failed to submit as to how the agricultural income as declared in the return is worked out. Thus, apart from some sample copies of gross agricultural produce as tabulated hereunder the assessee has failed to submit any doc....
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....nil 242860/- 3 2013-14 52,849/- 658690/- 4 2014-15 nil 679680/- 5 2015-16 nil 682450/- 6 2016-17 4,24,182/- 698251/- 7 2017-18 Nil 6,99,490/- Further sales have been claimed to be made in cash and therefore it becomes difficult for verification. I am also unable to agree with the assessee that she will get 2/3"1 share of agricultural produce. Normally, it may not be more than 50% of the produce. Considering these facts, I broadly agree with the AO that the assessee has not explained the sources of this agriculture income properly. However at the same time it cannot be said that the assessee just did not earn any income from agriculture or could not have earned any income. Even if the assessee gives it somebody else to cultivate it, she will end up getting some income from 37 bighas of land. 9.5 Therefore, considering the overall facts of the case, I am of the view that it will be reasonable that the assessee may be allowed benefit of agricultural income to the extent of as shown in the table below. Sr. No. Assessment year Amount sample vouchers Agriculture income be allowed Agriculture income shown Agriculture income to disallo....
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.... limited (PIPL) and its associated concerns- controlled by Shri Ankur Anil Pandhe and his family. During the course of Search action, your residence was also covered. In the course of search action, the Inventory of Jewellery and Cash found/seized was recorded as under: Premise particulars Assets found but not seized Assets seized Cash (Rs.) Jewellery (Rs.) Total (Rs.) Cash (Rs.) Jewellery (Rs.) Total (Rs.) Residence at 2202, Mahindra Eminent, Near Patkar College, S.V. Road Goregaon, West Mumbai 21,200 8,15,796 8,36,996 Nil Nil Nil Please explain the source of above Cash/ Jewellery with supporting evidences. In case the same is not proved, please show cause as to why the respective amount should not be added to your total income u/s 69A/ 69 B of the Act in the year of search i.e. A.Y. 2017-18. " 5.2 The assesses has failed to comply with aforesaid notice, and hence penalty order u/s 271(l)(b) dated 12.12.2018 levying a penalty of Rs. 10,000/- was passed. Subsequently in notice u/s 274 r.w.s. 271(1)(b) dated 12.12.2018, the assesses was provided last & final opportunity and date of compliance wa....
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....fs on the basis of the said CBDT circular have been granted. Upon hearing learned counsel and perusing records we find that, what the learned counsel submits is the guidelines for seizure of the jewellery and ornaments by the CBDT Circular which read as under : "Instances of seizure of jewellery of small quantity in course of operations under section 132 have come to the notice of the Board. The question of a common approach to situations where search parties come across items of jewellery, has been examined by the Board and following guidelines are issued for strict compliance. (i) In the case of a wealth-tax assessee, gold jewellery and ornaments found in excess of the gross weight declared in the wealth-tax return only need be seized. (ii) In the case of a person not assessed to wealth-tax gold jewellery and ornaments to the extent of 500 gms. per married lady, 250 gms. per unmarried lady and 100 gms per male member of the family need not be seized. (iii) The authorised officer may, having regard to the status of the family, and the custom and practices of the community to which the family belongs and other circumstances of the case, decide to exclude a larger quantit....