TaxTMI 
TaxTMI 
2023 (3) TMI 1353
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....08-09, 2009-10 and 2012-13 with the delay of 54 days. The assessee filed petition for condonation of delay, submitting that Sri P.Nooka Raju, father of the assessee who manages the affairs of the assessee, fell sick and he was advised bed rest for 2 months. He took all the necessary steps for filing the appeal after he recovered. The assessee submitted that the delay of 54 days in filing the appeal was due to the genuine reasons stated above that were beyond the control of the assessee, which are neither intentional nor deliberate. Therefore, he pleaded to condone the delay and admit the appeals for hearing. We have heard the Ld.AR and find reasonable cause for the delay in filing the appeal. Hence, the delay is condoned and the appeals ....
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....ng aggrieved, the assessee preferred an appeal before the Tribunal and raised the following grounds : 1. The order of the Learned Commissioner of Income Tax(Appeals)-3, Visakhapatnam is contrary to the facts and also the law applicable to the facts of the case. 2. The learned Commissioner of Income Tax (Appeals)-3, Visakhapatnam is not justified in restricting the agricultural income to the extent of Rs.4,78,200/- as against Rs.5,50,000/- admitted by the appellant. 3. Any other grounds may be urged at the time of hearing. 5. Ground No.1 and 3 are general in nature, which do not require specific adjudication. 6. Ground No.2 is related to restricting the agricultural income to the extent of Rs.4,78,000/- as ag....
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....so perused the confirmation letters produced by the assessee from Sri Pilli Rajulu, grandfather, Smt. K.Akkamma, grandmother and Sri K.Vijay Kumar, uncle of the assessee. The Ld.CIT(A) viewed that it is an accepted proposition that any agricultural land with commercial / cash crop would fetch net income of Rs.20,000/- per acre. The agricultural land of the assessee, being Ac.23.91 cnts, the Ld.CIT(A) viewed that it is reasonable to earn Rs.4,78,200/- (i.e. Rs.20,000/- x Ac.23.91 cnts) as the ownership was not in doubt. The Ld.CIT(A) therefore, directed the AO to restrict the addition to Rs.4,78,200/- and disallow Rs.71,800/-. We find, that the Ld.CIT(A) has rightly estimated the agricultural income of the assessee basing on the valid propos....
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.... before the CIT(A) and the Ld.CIT(A) restricted the addition to Rs.1,33,000/- since there is corroborative evidence of a gift of Rs.50,000/- received from the father of the assessee. 12. On being aggrieved, the assessee preferred an appeal before the Tribunal and contended that the deposits of Rs.1,98,000/- were made on various dates out of his earnings and also from agricultural income. The assessee also contended that out of the above amount, an amount of Rs.50,000/- was received as gift from his father, Sri Pilli Nooka Raju and furnished a confirmation letter. The Ld.AR submitted that the Ld.CIT(A) is not justified in confirming the addition of Rs.1,98,000/- as unexplained deposits. The Ld.AR, therefore, pleaded to set aside the order....
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....ontended that insurance premium of Rs.90,000/- was made out of gross earnings received through agriculture and auto consultancy. The assessee further submitted that the assessee had issued a cheque for Max New York Life Insurance out of the cash deposits accumulated in his Yes Bank account and also filed copy of statement of Yes Bank account in support of his claim. The assessee pleaded to set aside the order passed by the Ld.CIT(A) and allow the appeal of the assessee on this ground. 16. Per contra, the Ld.DR relied on the order of the Ld.CIT(A) and pleaded to uphold the same and dismiss the appeal of the assessee on this ground. 17. We have heard both the parties and perused the material placed on record. It is the case of the asses....