2022 (6) TMI 1234

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....e assessee is directed against the order dated 19-07-2021 passed by the National Faceless Appeal Centre (NFAC), Delhi u/s.250 of the Income-tax Act, 1961 (hereinafter also called 'the Act') in relation to the assessment year 2014-15. 2. The only issue raised in this appeal is against the confirmation of disallowance of Rs.4,19,970/- made by the Assessing Officer (AO) in respect of agricultural ex....

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.... 4. We have heard the rival submissions and gone through the relevant material on record. It is seen that the assessee declared gross agricultural receipts at Rs.47,78,862/- and agricultural expenses at Rs.12,52,631/-, which account for more than 26% of the gross receipts. The assessee has furnished year-wise details of gross receipts and expenses on account of agricultural operations, that has be....