ITAT Ahmedabad Restores Farmer’s Case on Unexplained Investment with ₹5,000 Cost

Chandrakant Atmaram Acharya Vs ITO (ITAT Ahmedabad) Farmer’s Property Investment Not Unexplained – Agricultural Income Claim Ignored in Ex Parte Order ITAT Ahmedabad Remands with ₹5,000 Cost Assessee, a small farmer, was subjected to reassessment on the basis of information from AIR/CIB that he, along with co-owners, had purchased land for ₹40.80 lakh, his share being ₹10.20 lakh plus stamp duty & registration, aggregating to an investment of ₹10.80 lakh. Since he had not filed a return of income & failed to respond to repeated notices issued under sections 148, 142(1), &am...