THE ASSISATANT COMMISSIOENR OF INCOME-TAX, HOSHIARPUR vs. SH. MANINDER SINGH CHEEMA, HOSHIARPUR

ITA 719/ASR/2013Status: DisposedITAT Amritsar31 July 2018AY 2007-0814 pages
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What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s deletion of additions related to earnest money and unexplained investment in land, finding that the assessee had provided sufficient evidence. However, the Tribunal allowed the Revenue's appeal regarding the addition for agricultural income, finding the assessee's claim unsubstantiated.

What were the facts?

The Revenue appealed against the CIT(A)'s deletion of additions made by the AO. The additions pertained to alleged unexplained cash credits (earnest money), unexplained investment in land, and excessive agricultural income claimed by the assessee.

What were the issues?

Whether the CIT(A) erred in deleting additions related to unexplained cash credits and investments, and whether the AO's estimation of agricultural income was justified.

Which sections of the Income-tax Act were involved?

Section 68,Section 69,Section 143(3),Section 250(4)

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Income Tax Appellate Tribunal, AMRITSAR BENCH, AMRITSAR.

Before: SH. SANJAY ARORA & SH. N. K. CHOUDHRY

Hearing: 26.06.2018Pronounced: 31.07.2018

Per Sanjay Arora, AM: This is an Appeal by the Revenue directed against the Order by the Commissioner of Income Tax (Appeals)-1, Ludhiana (‘CIT (A)' for short) dated 10.09.2013, allowing the assessee’s appeal contesting its assessment u/s. 143(3) of the Income Tax Act, 1961 ('the Act' hereinafter) dated 30.12.2009 for the Assessment Year (AY) 2007-08. 2. The appeal raised three grounds, as under; the fourth being general in nature, warranting no adjudication:

‘1. That, on the facts and in the circumstances of the case, the ld. CIT(A) has erred in law in deleting the addition of Rs.10 lacs made by the A.O. u/s. 68 of the Income Tax Act, 19

The order continues below.

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