Addition u/s 68 unsustainable as leased land not considered while assessing agricultural income

Late Madan Mohan Sharma Vs ITO (ITAT Delhi) ITAT Delhi held that addition under section 68 towards unexplained income unsustainable as AO failed to consider leased land while assessing the agricultural income. Facts- The return of the assessee was selected for limited scrutiny. The reason for scrutiny selection was to examine large agricultural income. Based on investigation, AO estimated the agricultural income to be Rs.8000 per bigha. He held that the assessee is holding 77.305 bighas and estimated the agricultural income at Rs.6,18,444/- (77.305 x 8000). Since the assessee had shown agricul...