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TMI Blog2020 (10) TMI 1051X X X X Extracts X X X X X X X X Extracts X X X X ..... der of Tribunal, Indore Bench in assessee s own case, we find sufficient merit in the contention made the assessee and are of the considered view that impugned order u/s 263 of the Act dated 26.3.2019 needs to be modified and the direction of Ld. Pr.CIT to the Ld. A.O should be restricted only to the extent of examining the issue of admissibility of agriculture income and not to other issues already dealt by the Ld. A.O - Appeal of the assessee decided partly. - ITA No. 518/Ind/2019 - - - Dated:- 23-10-2020 - HON BLE KUL BHARAT, JUDICIAL MEMBER AND HON BLE MANISH BORAD, ACCOUNTANT MEMBER Revenue by : Smt. Ashima Gupta, CIT Assessee by : Shri Anil Khabya, CA ORDER PER MANISH BORAD, A.M: The above captioned appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT-1 exercising his power u/s 263 of the Act examined the order of Ld. A.O u/s 143(3) of the Act as to whether it is erroneous and prejudicial to the interest of revenue and examined the assessment records observing as follows:- 2. On going through the case records, it is noticed that the profit and loss account for the year ended 31 March, 2014 had shown other income which was sale of Root Shoot/Seeds of ₹ 521.36 lakh and other income which was crop-1 of RS.256.42 lakh, total as agriculture income of ₹ 777.78 lakh (521.36+256.42), but at the time of computation of income aseessee company had taken the agriculture income of ₹ 62,60,40,263/- which was not in order as per conditions laid down in respect of section 2(1A) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this contention Ld. Counsel for the assessee referred to the decision of the Hon'ble Tribunal, Indore Bench vide ITA No.453/Ind/2017 dated 21.8.2018 in assessee s own case for Assessment Year 2014-15 in which the revenue has challenged the order of Ld. CIT(A) deleting the addition made by Ld. A.O in the assessment order u/s 143(3) of the Act dated 31.10.2016. It was submitted that the Hon'ble Tribunal has already confirmed the finding of Ld. CIT(A) deleting the additions made in the regular assessment proceedings u/s 143(3) of the Act and thus framing of denovo assessment order will not be justified. 8. Per contra Ld. Departmental Representative vehemently argued supporing the order of Ld. Pr. CIT. 9. We have heard rival cont ..... X X X X Extracts X X X X X X X X Extracts X X X X
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