TaxTMI 
TaxTMI 
2025 (4) TMI 1854
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....ssessment passed u/s 143(3) of the Income-tax Act, 1961 (hereinafter referred to as „the Act‟) dated 09.03.2016 by the Assessing Officer, ITO, Ward-4(4), Gurgaon (hereinafter referred to as „ld. AO‟). 2. The assessee has raised the following grounds of appeal before us:- "1. The order of the learned Commissioner of Income-tax (Appeal) is erred in law and facts. 2. That on the facts and in the circumstances of the case, the learned Commissioner of Income-tax (Appeal) has erred in upholding arbitrarily reducing the agricultural income from Rs. 48,35,480/- to Rs. 10,65,450/- on the basis of the disputed report of the Tehsildar and has failed to verify the evidence in nature of patwari report and the....
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....of the facts and circumstances of the case and in law, the Ld. AO has erred in law and on facts in rejecting the Assessee's agricultural income as per accounts filed, without invoking Section 145 of the Act, and proceeded to estimate the same arbitrarily, which is contrary to settled law. ii. That in view of the facts and circumstances of the case and in law, the Ld. AO failed to provide the Assessee the opportunity to crossexamine Smt. Poonam Sharma and Smt. Renu Sharma, whose statements were relied upon, thereby violating principles of natural justice. iii. That in view of the facts and circumstances of the case and in law, the Ld. AO erred in law in disregarding the affidavit of the Assessee affirming that the land ....
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....his own land measuring 1 acre and land taken on lease measuring 4 acres during the year. The ld AO relied upon the report of Tahsildar, who purportedly stated that only a portion of the land was used for strawberry cultivation. Based on this, the ld AO estimated the agricultural income at Rs 10,65,450/- and balance amount of Rs 37,70,030/- (4835480-1065450) was treated as income from other sources. The ld AR submitted that in Tahsildar's report, he had stated that only 12 kanal 16 marlas of land i.e. 1.6 acres of land was used for strawberry cultivation while the remaining land was utilized for growing rice, wheat, etc., with a portion lying vacant. Based on this, the ld AO estimated the net agricultural income at Rs. 10,65,450, which was c....
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.... sides. However, the determination of agricultural income at Rs 10,65,450/- is considered too low, in our considered opinion, given the crops cultivated by him on the agricultural lands (either owned or leased). Further we find that strawberries obviously would yield better returns for the assessee. Considering the totality of facts and circumstances, we estimate the net agricultural income in the following manner:- Gross receipts 64,27,811 Less: Agricultural expenses 15,92,331 Less: Cheque receipts 21,02,964 Net agricultural income in cash 27,32,516 80% relief to the assessee 21,86,013 20% relief to the revenue 5,46,503 This, in our considered opinion, would meet the ends of justice for both the sides....
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....unexplained money u/s 69 of the Act. On first appeal, the arguments were reiterated by the assessee. The ld CIT(A) issued notices u/s 133(6) of the Act to the two ladies who replied that they had neither purchased land nor paid any cash to the assessee. When this was confronted to the assessee, it was submitted that the lands were sold to the husbands of those two ladies and not to the two ladies. It was submitted that agreement to sell was entered into with the aforesaid two ladies. But the sale deeds were ultimately executed in the names of the husbands of the two ladies. The assessee also filed an affidavit affirming the same and clarified that he had withdrawn cash from his bank account and handed it over to his father once the land sal....