SHRI SATISH MUNDE,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, NAGPUR

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ITA 1/NAG/2018Status: DisposedITAT Nagpur31 July 2023AY 2013-14Bench: SHRI INTURI RAMA RAO (Accountant Member), SHRI S. S. VISWANETHRA RAVI (Judicial Member)4 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal found the CIT(A)'s order to be reasonable, considering the assessee's past agricultural income and the lack of proper records. Therefore, the estimation of Rs.12,00,000/- was upheld.

What were the facts?

The assessee claimed agricultural income of Rs.18,09,705/-. The Assessing Officer disallowed this claim due to lack of details regarding expenditure and income. The CIT(A) allowed a portion of the claim, estimating it at Rs.12,00,000/-.

What were the issues?

The primary issue was the validity of the assessee's claimed agricultural income and the reasonableness of the estimation made by the lower authorities in the absence of supporting documentation.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, NAGPUR BENCH, NAGPUR – VIRTUAL COURT

Before: SHRI INTURI RAMA RAO & SHRI S. S. VISWANETHRA RAVI

For Respondent: Smt. Rashmi Mathur
Hearing: 20.07.2023Pronounced: 31.07.2023

ORDER

PER INTURI RAMA RAO, AM:

1.

This is an appeal filed by the assessee directed against the order of ld. Commissioner of Income Tax (Appeals)-1, Nagpur [‘the CIT(A)’] dated 16.10.2017 for the assessment year 2013-14.

2.

Briefly, the facts of the case are that the appellant is an individual engaged in the business of trading in food grains carrying under the name and style of M/s. Balaji Enterprises. The Return of Income for the assessment year 2013-14 was filed on 30.09.2013 declaring total income of Rs.1,07,51,400/-. Apart from this, the assessee also declared agricultural income of Rs.18,09,705/-.

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