9911796707
TMI Blog2008 (5) TMI 280X X X X Extracts X X X X X X X X Extracts X X X X ..... rcumstances of the case and in law the order of the Income-tax Appellate Tribunal is perverse, being based on conjectures and surmises and the findings of the Assessing Officer as well as the Commissioner of Income-tax (Appeals) have been ignored without any cogent material?" 2. The assessee declared agricultural income at Rs.7,50,000/- from cultivation of 36 acres of own agricultural land and 6 acres of leased agricultural land. In support of the said declaration, the assessee produced revenue record, J-forms and claimed that the agricultural income was net of expenses @ 25%. However, the submissions of the assessee were not accepted by the Assessing Officer, who determined the agricultural income of the assessee at Rs.5,52,561/- holding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s manner of declaring agricultural income itself shows that it has been declared on estimate basis. Now the issue is as to whether the estimate made by the assessee can be construed as reasonable considering the claim of agricultural operations carried out, size of land holdings, past history etc. In this context, we find that the assessee has attempted to explain that it had 36 acres of land under cultivation, partly owned by him and partly belonging to his brother in addition to 6 acres of land taken on lease. The Assessing Officer did not accept the plea of the assessee with respect to the leased land for the reason that it was not substantiated. In so far as the non-acceptance of the quantum of agricultural income is concerned, the Asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see. There is no such exercise on the part of the Assessing Officer emerging in the instant case. Having regard to the aforesaid discussion, in my view the Assessing Officer was not justified in rejecting the claim of the assessee for having derived agricultural income of Rs.7,50,000/- for the year under consideration. Moreover, in the immediately preceding year, the assessee has declared agricultural income of Rs.7,00,000/-. No doubt, the income for assessment year 2002-03 has not been subjected to scrutiny assessment yet the trend of income declared cannot be lost sight of while considering the efficacy of income declared by the assessee. Moreover, there is no material on record to show any vested interest or motive with the assessee to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the material sought to be relied upon by the assessee was lacking in credibility. The certificate of average income per acre of land issued by the Village Patwari indicates the income level of Rs.36,000/- per acre which cannot be ignored. Moreover, the assessee had submitted the J-forms evidencing the sale of agricultural produce. No doubt, there is always an element of subjectivity in estimation. However, if it can be made out that the estimate is without any basis or is totally lacking the bona fides and only then the Assessing Officer would be justified in substituting his estimate in place of the estimation of agricultural income done by the assessee. There is no such situation in this case. In fact, there is no material on record ..... X X X X Extracts X X X X X X X X Extracts X X X X
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