Section 44AA provides that agriculturist is not required to maintain books of accounts: ITAT Bangalore

Ganesh Vasudeva Shet Vs ITO (ITAT Bangalore)

ITAT Bangalore held that as per provisions of section 44AA of the Income Tax Act, an agriculturist is not required to maintain books of accounts. Further, revenue has failed to establish anything contrary, accordingly, addition made on this count deleted.

Facts- The assessee is an individual and is a partner in two partnership firms. The assessee is also an agriculturist. It is submitted that the assessee is regularly assessed to tax. The assessee for the year under consideration filed its return of income on 04.0

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