25 October 2016
Sir I am facing one case with AO. The assessee is a Govt. Job holder and he/his family does not have any agricultural land. And the assessee is doing agricultural operation on mortgage land (app. 50 Bigha Land).
Now the AO is saying that as he/his family do not have any agricultural land so he can not enter into mortgage agreement as the assessee is a govt. job holder. And the AO is going to impose tax on the whole gross receipts as income from other sources.
Please suggest me. Please provide me if there is any case law.