9911796707
TMI Blog2015 (2) TMI 3X X X X Extracts X X X X X X X X Extracts X X X X ..... 2005-06 amounting to ₹ 10,57,768 and ₹ 7,41,439 have been produced. Therefore, we are of the opinion that the assessee has satisfactorily discharged his onus of (1) holding of agricultural land which has been gifted from his mother Dr. Adi Lakshmi, (2) income from the said land from grape and mango orchards and coconut trees which has accrued from the A.Y. 2001-02 and even from an earlier period in hands of his mother and (3) the net agricultural income has been arrived at supported by agricultural receipts which have been enlisted at pages 3 and 6 of the Paper Book for A.Ys. 2004-05 and 2005-06, respectively. The overall receipts for the two years put together add up to the income returned by the assessee. In these circumsta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee, in response to which, he filed his returns of Income declaring 'nil' income for both the assessment years under consideration and agricultural income of ₹ 10,57,768 for A.Y. 2004-05 and ₹ 7,41,439 for A.Y. 2005-06. During the course of assessment proceedings, the assessee furnished certain receipts for sale of agricultural produce which included coconut, grapes and mangoes, but he did not produce any evidence for expenditure throughout the year In the absence of full documentary evidences regarding the entire agricultural income and expenses incurred on agricultural activities, the Assessing Officer rejected 50% of the claim of agricultural Income and treated a sum of ₹ 5,28,880 in the A.Y. year 2004-05 and & ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessee is a partner. The CIT(A) verified the details/evidences filed. The CIT(A) noted that the Assessing Officer did not dispute the fact that the assessee had received agricultural income and he has only restricted the claim of income being agricultural to 50% in absence of full documentary evidences and treated the remaining 50% as Income from other sources. Besides, the assessee has not given any details of expenditure incurred for getting that kind of agricultural income. The CIT(A) observed that the assessee has filed only income details partly, but not any expenditure details. The CIT(A) further observed that there has been no regular return filed to establish that the claim made by the assessee is genuine and whatever agricultur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s as below: Assessment year Gross Agri. Income (Rs.) Agri. Expenses incurred (Rs.) Net Agri. Income (Rs.) 2001-02 1066150 392505 693645 2002-03 1199894 416590 783304 2003-04 1027053 392127 834926 2004-05 1271630 218862 1052768 2005-06 1031152 289713 741439 11. It was also submitted that the life of the grape garden is generally 10 to 12 years and yield is very profitable. It was also stated that agricultural lands were gifted by assessee's mother Dr. E. Adi Lakshmi who was assessed to tax with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. 94735 15/3/2004 806 58751 2. 94727 17/3/2004 948 59025 3. 94726 19/3/2004 948 60014 4. 80548 20/3/2004 806 19234 5. 94725 21/3/2004 948 62566 6. 94740 22/3/2004 948 61386 7. 94741 24/3/2004 948 62447 8. 80589 25/3/2004 806 18274 9. 94742 25/3/2004 948 66502 10. 94743 27/3/2004 948 64069 11. 94744 29/3/2004 948 61636 12. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4386 53510 18. 454928 13/3/2005 4550 60750 19. 335280 15/3/2005 3353 48825 20. 335274 15/3/2005 3353 24200 21. 454931 15/3/2005 4550 36610 22. 454913 18/3/2005 4550 48700 23. 454935 19/3/2005 4550 46830 24. 335276 20/3/2005 3353 23200 25. 454934 21/3/2005 4550 41000 26. 454932 27/3/2005 4550 56850 27. 454937 29/3/2005 4550 50320 28. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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