2024 (9) TMI 1523

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.... partly allowed and partly rejected. 3. Operative Portion of the impugned order reads as under:- "7. We have heard both the parties, perused materials available on record and gone through orders of the authorities below. Although, the appellant claims to have earned agricultural income, but no evidence has been filed before the Assessing Officer and Id. CIT(A). Even before us, the Ld. Counsel for the assessee has expressed his inability to submit any details with regard to extent of land holding, agricultural activities carried out by assessee and income generated from agricultural activities. The appellant has also failed to prove money lending business activities with necessary evidences. Therefore, we are of the considered vi....

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....the assessee, we consider a Sum of Rs. 2,00,000/- towards expenses of the assessee for two years and balance sum of Rs. 4,00,000/- is available with the assessee in the form of cash in hand which can be considered as source for cash deposits. Therefore, we direct the Assessing Officer to allow relief to the extent of Rs. 4,00,000/- towards cash deposits into bank account in addition to relief already given by the Id. CIT(A). For balance cash deposits, the assessee could not adduce any evidence. Therefore, we sustain additions made by the Assessing Officer and sustained by the Id. CIT(A). To sum up, out of total additions sustained by the Id. CIT(A) of Rs. 31,60,956/-, the assessee gets relief of Rs. 4,00,000/- and balance amount of Rs. 27,6....