CIT Vs. JARNAIL SINGH

JUDGEMENT

(1.) The revenue has filed the present appeal under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as the Act ) against the order dated 21-8-2007 passed by the Tribunal, Chandigarh Bench B in ITA No. 963/Chd/2006 and has sought to raise the following substantial question of law:

(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 assessing officer, 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 dated 16-1-2006.

(3.) Being aggrieved, the assessee filed an appeal before the Commissioner (Appeals) who confirmed the action of the assessing officer and dismissed the appeal filed by the assessee vide his order dated 24-10-2006.