9911796707
TMI Blog2019 (9) TMI 190X X X X Extracts X X X X X X X X Extracts X X X X ..... the authorities below to claim huge agricultural income of ₹ 24,78,544/- earned out of small agricultural land holdings. The agreement with Shri Rajesh was executed on 8th June 2017 i.e., after closure of the financial year relevant to assessment year under appeal. Therefore, it is concocted and fabricated by the assessee. Conduct of the assessee in changing stand at different level and claiming lesser agricultural income before the authorities below would clearly show that authorities below were very reasonable in estimating the agricultural income at ₹ 14 lacs, though the assessee claimed lesser amount of the same subsequently. Therefore, authorities below were justified in considering as income from other sources. - Dis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d owned by assessee. Perusal of fard reveals that the assessee owned 6 acres of agricultural land only, whereas the assessee has shown agricultural income of ₹ 24,78,544/- in assessment year under appeal which is very much on the higher side as against the agricultural land owned by the assessee. The assessee was asked to furnish details of the land holdings by him along with the land taken on lease, in confirmation of the cultivation of agricultural land. The assessee submitted affidavit of Shri Satbir and Randhir Singh along with the copy of the agreement made with Shri Rajesh confirming the lease of land taken by assessee. The A.O. noted that reply of assessee would reveal that assessee cultivated 28 acres of land during the year, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Shri Satbir, he has stated that he was retired as JBT Master and owns 6 acres of agricultural land, out of which, 4 acres are being cultivated by him and 2 acres has been given to the assessee on lease. He was asked to explain whether any loan has been taken on Kisan Credit Card on the agricultural land owned by him. In response thereto, it is stated by him that he has availed this facility from the Bank. The assessing officer noted that loan on Kisan Credit Card is being given on the basis of agricultural land cultivated by the Farmer. Further, same was the position in the case of Shri Randhir Singh brother of the assessee. The assessing officer, therefore, noted that Shri Satbir and Randhir Singh both brothers of the assessee had cultiva ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oted that assessee has shown very high agricultural income and the same have not been substantiated through any evidence or material on record. Thus, assessee has also failed to prove any fact before the assessing officer. The assessing officer, therefore, considering the totality of the facts and circumstances, considered that assessee has cultivated 28 acres of land and estimated that assessee has earned agricultural income of ₹ 50,000/- per acre, therefore, estimated the agricultural income of ₹ 14 lacs and rest of the amount of ₹ 10,78,544/- was considered as income from other sources, addition of which, was made to the returned income. The Ld. CIT(A) confirmed the addition and dismissed the appeal of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The assessee claimed to have earned agricultural income of ₹ 24,78,544/- in the return of income. The same amount have been shown in the return of income as gross agricultural receipts. The expenditure incurred on agriculture have been shown at NIL [zero]. It is highly improbable that without incurring any expenditure assessee would have earned such agricultural income. The assessee in the profit and loss account has claimed agricultural expenses and net profit on account of agricultural income have been shown at ₹ 10,97,930/-. This fact itself disentitle the assessee for making claim of higher agricultural income. The assessee and his brothers were not having huge agricultural land so as to earn that much huge agricultural inco ..... X X X X Extracts X X X X X X X X Extracts X X X X
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