Agricultural Income Estimation Scaled Down: ITAT Rajkot Restricts Addition to ₹50,000 on Ad-hoc Basis

Samir Sarmanbhai Maru Vs ITO (ITAT Rajkot) Agricultural Income Estimation Scaled Down: ITAT Rajkot Restricts Addition to ₹50,000 on Ad-hoc Basis The Rajkot Bench of the ITAT partly allowed the appeal for AY 2017-18 by substantially reducing the addition made on account of alleged excess agricultural income. The Assessing Officer had rejected the assessee’s claim of net agricultural income of ₹5.67 lakh and, relying on crop-yield and price data collected from Agriculture University, Junagadh, estimated the net agricultural income at only ₹86,204. The balance amount of ₹4.81 lakh was t...