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Income Tax

ITAT Cuts Additions from Rs.13.91 Lakh to Rs.1.39 Lakh Using 10% Estimate

Case Law Details

Case Name
Chintan Umedsinh Sodha Vs ITO (ITAT Rajkot)
Date of Judgement/Order
Only available for paid members
Related Assessment Year
2016-17
Advertisement Chintan Umedsinh Sodha Vs ITO (ITAT Rajkot) No Bogus Evidence Found- From Rs.13.91 Lakh to Rs.1.39 Lakh: ITAT Applies 10% Estimate in Agriculture & Tuition Case Assessee declared total income of Rs.3,99,350 & agricultural income of Rs.4,95,050. AO, during scrutiny u/s 143(3), treated agricultural income of Rs.8,15,200 & tuition income of Rs.5,75,800 as unexplained income, holding that Assessee failed to produce sale bills, vouchers for agricultural expenses, or adequate proof for tuition such as student details, fee structure & tutor qualifications. CIT(A)-NFAC...
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Author Info

CA Vijayakumar Shetty
Qualification: CA in Practice
Company: Shetty & Co, Chartered Accountants, Mangalore
Location: Mangalore, Karnataka
Articles Published: 5,936

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