AO Accepted Agri Income in Next Year but Denied in Earlier Year Without Logic – ITAT Deletes Addition as CIT(A) Adopted “Whims & Fancies”!

Dineshbhai Manibhai Patel Vs ITO (ITAT Ahmedabad) AO Accepted Agri Income in Next Year but Denied in Earlier Year Without Logic – ITAT Deletes Addition as CIT(A) Adopted “Whims & Fancies”! Assessee was subjected to reassessment u/s 147 on the ground of unexplained cash deposits of Rs.31.54 Lakhs in his bank account. AO noted that no return was filed & treated Rs.13,52,000 as unexplained money u/s 69A. Assessee explained that he was carrying out agricultural operations on his own land. He produced revenue records (7/12 extracts) proving landholding, sale bills of agricultural ...