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TMI Blog2016 (10) TMI 1255X X X X Extracts X X X X X X X X Extracts X X X X ..... es and in absence of books of accounts in respect of agricultural produce being not maintained and case laws as relied on by the Assessee, it would be reasonable to estimate 30% of the sales amounting to ₹ 6,00,000/- to private parties as non-explained agricultural income which would be worked out to ₹ 1,80,000/-. Accordingly, the addition of ₹ 1,80,000/- is confirmed and the balance addition of ₹ 3,11,590/- i.e. [Rs.4,91,590- ₹ 1,80,000] is deleted. This ground of appeal is therefore, partly allowed. - I.T.A. No.360/Ind/2015 - - - Dated:- 19-10-2016 - SHRI D.T. GARASIA, JUDICIAL MEMBER AND SHRI O.P. MEENA, ACCOUNTANT MEMBER For the Appellant : Shri Prakash Jain, CA For th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 77; 3,500/- per quintal respectively, whereas maximum sale rate as per Mandi rate was ₹ 1165/- and ₹ 2240/-respectively. Thus the assessee has shown agricultural income of ₹ 1, 15,560/- by higher side as per working given in the chart in the assessment order. Accordingly, it was disallowed. The AO further found that the assessee has made on spot sales of ₹ 6 Lakhs for which no evidence filed hence, it was also disallowed. Thus total sales disallowed worked out at ₹ 7,15,560/- . The AO noted that the average expenses shown by the Assessee comes 31.3% on agricultural earnings. Accordingly, the AO computed disallowance out of agricultural income at ₹ 4,91,590/- (17,15,560 - 2,23,970/ being 31.3% expenses on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r Pachori 18 TTJ108 (MP-Jbl) where agricultural income shown was accepted on the basis of confirmation filed by the Assessee`s. 8. The Ld. Senior (DR) vehemently supported the order of lower authorities, and submitted that no books of accounts for agricultural produce is maintained and income is being shown on estimate basis. 9. We have heard the rival submissions and have gone through the orders of the lower authorities and perused the material available on record. We find that the assessee has shown agricultural income sales at ₹ 15,60,000/- which includes ₹ 6,00,000/- including ₹ 2,55,750/-being sales of wheat and soyabean shown at higher price as compared to Mandi sales. These sales are in t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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