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The Tax PublishersITA No. 1689/Mum/2019
2021 TaxPub(DT) 0005 (Mum-Trib)INCOME TAX ACT, 1961
Section 68
Where there were no observations of AO nor the assessee could explain expenses incurred and income allocated to the assessee from agricultural activities, to meet the ends of justice, one more opportunity was provided to the assessee to substantiate the claim of unexplained cash deposit.
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Income from undisclosed sources - Addition under section 68 - Unexplained cash deposit - Assessee pleading agricultural income
Assessee derived income from agricultural activities of growing flowers. AO held that assessee had not discharged the burden of proof with evidences in respect of generation of the receipts from the agricultural activities and also expenditure incurred for the purpose of cultivation. Therefore, he was of the opinion that the cash deposits in bank account were unexplained and made addition under section 68. Held: Information submitted by the assessee could not be disbelieved. But, the fact remained though the assessee had filed the details, there were no observations of the AO nor the assessee could explain expenses incurred and income allocated to the assessee. Therefore, to meet the ends of justice, one more opportunity was provided to the assessee to establish and clarify the income generated in agricultural activities and the expenses incurred.
REFERRED :
FAVOUR : Matter remanded.
A.Y. : 2012-13
IN THE ITAT, MUMBAI BENCH
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