TaxTMI 
TaxTMI 
2025 (7) TMI 885
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...., 1961 (hereinafter referred to as 'the Act'). 2. The brief facts of the case are that no return of income for AY 2012- -13 was filed by the assessee. The AO had received an information that the assessee had made cash deposit of Rs. 31,50,000/- in his savings bank account with Dena Bank, Sanand branch, Ahmedabad during the F.Y. 2011-12. On the basis of this information the case of the assessee was reopened u/s 147 of the Act after recording the reason and following the due process. In response to notice u/s 148 of the Act, no return of income was filed. However, the assessee had filed a return u/s 119(2)(b) of the Act 26.08.2019 declaring income of Rs. 40,014/-. In the course of assessment proceeding the assessee could not satisfactorily....
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....earned CIT(A) has erred in confirming addition of Rs. 24,43,889/- on account of cash deposit without considering that these deposits represent cash receipts from agricultural income. 4. On the facts and circumstances of the case as well as law on the subject, the learned CIT(A) has erred in confirming addition of Rs. 20,00,000/- on account of credit entry in bank account without considering that the same were in form of unsecured loan. 5. On the facts and circumstances of the case as well as law on the subject, the learned CIT(A) has erred in confirming action of Assessing Officer regarding non-acceptance of return filed u/s 148 of the Act. 6. It is therefore prayed that the above addition/disallowance made by the....
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....e and his family derived agriculture income which was deposited as cash in the bank account. 5.1 As regarding credit entry of Rs. 20,00,000/- the ld. AR explained that the same was received from one Sh. Piyushbhai Narsinhbhai Rathore and an affidavit of the said person was also brought on record. This amount represented loan taken by the assessee. The ld. AR explained that the assessee was unable to obtain the bank statement to corroborate this transaction as the matter was very old and the bank was unable to provide the required details. A copy of the letter from the bank in this respect was also filed in the paper-book. The ld. AR submitted that considering the evidence brought on record, the addition of credit entry should be deleted ....
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....f proof of ownership of land, sale bill etc. The issue of agriculture income derived by the assessee/his family is no longer res integra. This issue was examined by the AO in the course of assessment proceeding of the assessee for the A.Y.2011-12. A copy of the assessment order for A.Y. 2011-12 has been brought on record in the paper book filed by the assessee. It is found therefrom that the case of the assessee for A.Y. 2011-12 was taken up for scrutiny to examine the cash deposit of Rs. 15,18,700/- in the bank account of the assessee. In that year the AO had allowed relief to the assessee to the extent of Rs. 10,00,000/- on account of agriculture income for the year as well as past savings from agricultural income. Thus, the Department ha....