SRI. SAGAR KRISHNA,HOSPET vs. INCOME TAX OFFICER, WARD-1,, HOSPET

The AO completed the asst. by making addition of Rs.15.04 lakhs out of agricultural income declared by the assessee and another addition of Rs.10.30 lakhs relating to bank deposits. The assessee could not get favorable order from ld CIT(A) in respect of above said both additions and hence the assessee ahs filed this appeal before the Tribunal.

The ld AR submitted that the AO has made the above said two additions without considering the evidences furnished by the assessee in support of the claim of availability of agricultural income. He submitted that the assessee field Affidavits along with the vouchers before the AO as well as ld CIT(A), but both the authorities have not expressed their view on the above said documents. Accordingly he prayed that the matter may be restored to the file of the AO for examining the issues afresh by duly considering the evidences furnished by assessee. The ld AR further submitted that the above said evidences, in the alternative, may be taken as additional evidences under Rule 29A of the Income-tax Appellate Tribunal Rules.

The ld DR, on the contrary, supported the order passed by ld CIT(A).

Having heard the rival submissions, I am of the view that both the issues need to be restored to the file of the AO for examing them afresh by duly considering the Affidavits and evidences furnished by the assessee. Accordingly I set aside the order passed by ld CIT(A) on these two issues and restore both the issues to the file of AO for examining them afresh by duly considering the evidences that were/may be furnished by the assessee before him. After affording adequate opportunity of being heard to the assessee, the AO may take appropriate decision in accordance with the law.

In the result, appeal filed by the assessee is treated as allowed for statistical purpose.