COMMISSIONER OF INCOME TAX Vs. JARNAIL SINGH

JUDGEMENT

(1.) THE Revenue has filed the present appeal under s. 260A of the IT Act, 1961 (hereinafter referred to as the 'Act') against raise the following substantial question of law : "Whether in the facts and circumstances of the case and in law the order of the Tribunal is perverse, being based on conjectures and surmises and the findings of the AO as well as the CIT(A) have been ignored without any cogent material -

(2.) THE assessee declared agricultural income at Rs. 7,50,000 from cultivation of 36 acres of own agricultural land and 6 acres of leased agricultural land. In support of the said declaration, the assessee produced Revenue record, J Forms and claimed that the agricultural income was net of expenses @ 25 per cent. However, the submissions of the assessee were not accepted by the AO, who determined the agricultural income of the assessee at Rs. 5,52,561 holding that the yield declared was high. The remaining income of Rs. 1,97,439 was taxed as income from other sources vide order dt. 16th

(3.) BEING aggrieved, the assessee filed an appeal before the CIT(A) who confirmed the action of the AO and dismissed