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FEBRUARY 3, 2011 I. Section 2(1A) of the Income-tax Act, 1961 - Agricultural income - Assessment year 1997-98 - Where conversion of raw peas into pea seeds had only been done keeping in view that there was no market readily available for sale of raw peas, income derived by assessee from pea seeds was agricultural income and, thus, not exigible to tax [In favour of assessee] II. Section 69A of the Income-tax Act, 1961 - Unexplained moneys - Assessment year 1997-98 - Where assessee claimed to have earned profit on transaction of shares of 'R' company but facts showed that 'R' was not listed on stock exchange and there was no evidence to show that there was appreciation in value of shares of said company, transaction of such shares was not genuine transaction [In favour of revenue] CASE REVIEW CIT v. Raja Benoy Kumar Sahas Roy [1957] 32 ITR 466 (SC) followed & relied upon. CASES REFERRED TO State of Rajasthan v. Rajasthan Agriculture Input Dealer's Association [1996] 5 SCC 479 (para 12), Seth Banarsi Das Gupta v. CIT [1977] 106 ITR 804 (All.) (para 12), CIT v. Relish Foods [1999] 237 ITR 59/103 Taxman 392 (SC) (para 12), CIT v. Jalna Seeds Processing & Refrigeration Co. Ltd. [2000] 246 ITR 156/[2001] 118 Taxman 725 (Bom.) (para 12) and CIT v. Raja Benoy Kumar Sahas Roy [1957] 32 ITR 466 (SC) (para 12). Ms. Urvashi Dhugga for the Appellant. Akshay Bhan for the Respondent. JUDGMENT Ajay Kumar Mittal, J. - By this order, seven appeals, i.e., Income-tax Appeals Nos. 396 of 2005, 92 and 93 of 2006, 195 and 525 of 2007, 582 of 2008 and 74 of 2010 are being disposed of as learned counsel for the parties are agreed that identical questions of law are involved therein, except in Income-tax Appeal No. 74 of 2010 wherein one additional substantial question of law has been raised. 2. Before proceeding further, it must be mentioned at this stage that the paper-books of the aforesaid appeals have not been received from the concerned branch as the same are said to have been burnt in the fire incident that took place in the premises of this court on the night of January 30, 2011. Learned counsel for the appellant has made available two copies of paper-books of each appeal…

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