2025 (1) TMI 330

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....e assessee. The subject matter of the appeal pertains to assessment year 2000-01. The appeal was admitted on following substantial question of law: "Whether the Assessing Officer has rightly invoked Section 69A of the Income Tax Act, 1961 and made an addition of Rs.2,25,000/-, which was the amount returned by the assessee as an agricultural income?" 3. Facts giving rise to filing of this appeal briefly stated are that the assessee is carrying on the business of supplying building construction material. The assessee filed the return of income for the assessment year 2000-01 on 20.05.2002, in which the assessee disclosed his income for business as Rs.82,450/- and agricultural income of Rs.2,25,000/-. The Assessing Officer completed the ass....

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....closed a sum of Rs.2,25,000/- as his agricultural income. It is further submitted that the Mandal Revenue Officer had given a report for financial year 2001-02 in respect of agricultural income of the assessee and therefore for the previous year, it could not be held that the land in question has already been plotted and no agricultural operation is carried out. Therefore, it is contended that the finding recorded by the Income Tax Appellate Tribunal is perverse. 7. On the other hand, learned Senior Standing Counsel for the Revenue has submitted that no substantial question of law arises for consideration in this appeal and the matter is concluded against the assessee by findings of fact. 8. We have considered the rival submissions made o....