TaxTMI 
TaxTMI 
2026 (1) TMI 619
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.... 1. That on the facts and circumstances of the case, the provisions of law, the order passed by the Ld. PCIT under section 263 of the Act is bad both in the eyes of law and on facts. 2. That on the facts and circumstances of the case, the Ld. PCIT, Rohtak has erred, both on facts and in law, in setting aside the order passed by the AO u/s. 143(3) without appreciating the fact that the assessee had attached all the evidentiary documents during the assessment proceedings which were not doubted or countered by the AO in any manner. 3. That the initiation of proceedings by PCIT are irregular and deserve to be quashed at the instance as the provisions invoked by the PCIT are not at all applicable to the case of the assessee. ....
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....losing therewith draft assessment order requesting the assessee to show cause as to why assessment in his case should not be finalized as per draft assessment order treating the agricultural income of Rs. 34,01,132/- as income from other sources issued on 19.03.2022. Again the show cause was issued on 18.8.2022. Compliance was made by the assessee by uploading the information in the shape of some bills and land record entries with jamabandi and khasra girdawri on 21.3.2022. The AO noted that no plausible explanation with supporting evidence is being provided to substantiate holding of land and earning agricultural income and therefore, the net amount declared as net agricultural income of Rs. 34,01,132/- was added in the hands of the assess....
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.... 8. Keeping in view facts and circumstances of the case as discussed above, it is observed that the AO had passed the order dated 09.09.2022 in casual manner without due diligence and without applying correct provisions of the Income Tax Act, 1961. Therefore, the assessment completed u/s. 143(3) r.w.s. 144B of the Act is erroneous in so far as it is prejudicial to the interest of the revenue in terms of provisions of section 263 of the Act, especially in view of Explanation 2 inserted by the Finance Act, 2015 w.e.f. 01.06.2015. Accordingly, by exercise of power conferred u/s. 263 of the Income Tax Act, 1961, the assessment order passed by the above extent with the direction to pass an order afresh after conducting required enquiries an....
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....to Form-J as well as land holding Card issued by the Government of Haryana in the shape of 'Meri Fasal Mera Byora'. After examining these documents, the AO assessed the income as income from other sources and taxed under regular provisions instead of applying the provisions of section 69A read with section 115BBE of the Act. We noted that the assessee is able to file all the documentary evidences before the PCIT and whether the assessee's agricultural income can be treated as income from other sources or not, this is a highly debatable issue and for this the revision proceedings u/s. 263 of the Act cannot be resorted to. Even otherwise, the assessee has preferred the appeal against the addition on the very same issue which is pending before....