Agricultural Income Claim Needs Fresh Look: ITAT Pune Restores Cash Deposit Case to AO

Sonu Goma Bhangale Vs ITO (ITAT Pune) Assessee, an individual, did not file return for AY 2010-11. Based on cash deposits of Rs.42,64,155/- in Godavari Laxmi Co-op Bank, notice u/s 148 was issued. Assessee filed return declaring Rs.1,25,840/- as income & agricultural income of Rs.65,00,000/-. AO completed reassessment u/s 143(3) r.w.s.147 accepting the returned figures. Subsequently, PCIT revised this order u/s 263 on 30.03.2020 directing AO to verify the source of cash deposits & agricultural income claim. AO thereafter framed order u/s 147 r.w.s.263 making addition of Rs.47,57,055/- ...