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TMI Blog2017 (11) TMI 1470X X X X Extracts X X X X X X X X Extracts X X X X ..... of ₹ 50,000/- - Decided in favour of assessee partly. Addition treating the agricultural income declared by the appellant as being income from undisclosed sources - Held that:- The assessee was not able to submit necessary documents in support of the contention that the assessee was having agricultural income of ₹ 22,900/- during the year under consideration. Therefore, in absence of any supporting document, sustain the order of the ld. CIT(A) on this issue.- Decided against assessee. - ITA No. 683/JP/2017 - - - Dated:- 21-11-2017 - SHRI BHAGCHAND, ACCOUNTANT MEMBER For The Assessee : Shri Manish Agarwal (CA) For The Revenue : Smt. Poonam Roy (DCIT) ORDER PER: BHAGCHAND, A.M. This is an appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of ₹ 22,900/- earned by assessee as Business Income , arbitrarily. 2.1. That the Ld. CIT(A) erred in upholding agriculture income as Business Income by completely ignoring the fact that assessee has been showing agriculture income on year to year basis and the same has been accepted by the department as such in assessments completed u/s 143(3) of the Income Tax Act. It is therefore prayed that agriculture income declared by assessee deserves to be accepted such. 4. In the grounds No. 1 and 1.1 of the appeal, the issues involved are upholding the rejection of books of account and sustaining the addition of ₹ 1,00,000/-. The ld CIT(A) has dealt the issue in her order by holding as under: 4.3 I have carefull ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nwarranted. In this regard it is further submitted that sole allegation of Ld. AO that no stock register is maintained does not hold good since every precise details of quantity traded duly audited by tax auditor were submitted, thus in the circumstances, provisions of section 145(3) were wrongly invoked. Reliance is placed on the decision of Hon ble Jurisdictional High Court in the case of Bhawani Silicate Industries reported in 236 Taxman 596 wherein it has been held as under: Method of accounting Rejection of accounts Qualitative records Books of account could not be rejected merely because qualitative records was not maintained. With regard to the ad hoc trading addition, it is submitted that the Ld. AO has complet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (3) however, allowed substantial relief in the trading addition made by lower authorities, it is thus humbly prayed that the addition so made in the circumstances deserves to be deleted. He relied on the following case laws: ( i) 316 ITR 120 (2009) Malani Ramjivan JagannathVs. Asst. CIT (Raj.) ( ii) Haridas Parikh V ITO [2009] 29 SOT 13 (JODH.)(URO) ( iii) Ashok Kumar Co. v. ITO [2004] 2 SOT 518 (Asr.) (SMC) ( iv) CM. Francis Co. (P.) Ltd. v. CIT [77 ITR 449] ( v) Asstt. CIT v. L.M.P. Tractors (P.) Ltd. [2005] 148 Taxman 52 (Mag.) In the circumstances, it is humbly prayed that the results declared by the appellant may kindly be accepted, and prays that the ad hoc trading addition of ₹ 100,000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed. 10. While pleading on behalf of the assessee, the ld AR has submitted as under: Under this ground of appeal the appellant has challenged the action of the Ld. CIT(A) in confirming the addition of ₹ 22,900/- made by the ld.AO by treating the agricultural income declared by the appellant as being income from undisclosed sources. The ld. AO held the agricultural income declared by the assessee regularly for past many years as his income from undisclosed sources, only for the reason that the report of Jamabandi submitted by the appellant pertained to the year 2010, by completely ignoring the fact that, the appellant has been showing income from agricultural activities consistently for past many years and the same have neve ..... X X X X Extracts X X X X X X X X Extracts X X X X
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