2022 (6) TMI 1096

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....WANETHRA RAVI, JM : This appeal by the assessee against the order dated 28-10-2016 passed by the Commissioner of Income Tax (Appeals)-2, Nashik ['CIT(A)'] for assessment year 2013-14. 2. The assessee raised two grounds of appeal amongst which the only issue emanates for our consideration is as to whether the CIT(A) is justified in confirming the addition of Rs.25,80,000/- ignoring the claim of a....

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....so held that the deposits to an extent of Rs.21,40,000/- were explained in respect of deposits out of earlier withdrawals and advance received which was refunded later on. According to CIT(A) the balance deposit of Rs.25,80,000/- (Rs.47,20,000/- - Rs.21,40,000/-), it was claimed consists of gross agricultural income and turnover on account of advances received from customers in land transactions. ....

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....sessee also furnished bills substantiating production of agricultural produce. Therefore, the CIT(A) ought to have considered the agricultural activity. It is also noted it was claimed by the assessee that the advances received from customers were refunded before year end but we find no such verification done by both the authorities below to confirm whether such advances were refunded or not. The ....