No Proof, No Exemption – ITAT Remands “Agricultural Income” Claim with Cost

Yohann Kekoo Sethna Vs ITO (ITAT Bangalore) In the case of Yohann Kekoo Sethna, the Bangalore ITAT dealt with addition of ₹33.12 lakh claimed as agricultural income but treated as unexplained cash credit u/s 68 and taxed u/s 115BBE. The Assessing Officer made the addition because: The assessee failed to furnish basic evidence such as land ownership/lease, crop records, sales details, or books of account. The claim of agricultural income remained completely unsubstantiated. The CIT(A) upheld the addition. Before ITAT: The assessee sought one more opportunity to produce evidence. The Tribu...