2015 (4) TMI 1182 - HC - Income Tax

Agricultural income u/s.2(1A)(b)(i) - exclusion of said income u/s.10(1) - Held that - Appeal raises a substantial question of law, it is admitted on the following substantial question of law Whether on the facts and in the circumstances of the case and in law, the ITAT was correct in directing the Assessing Officer to treat assessee s income as agricultural income u/s.2(1A)(b)(i) of the IT Act and to exclude said income u/s.10(1) of the IT Act? The Registrar (Judicial)/Registrar, High Court, Original Side, Bombay to ensure that the original record in relation to this Appeal is summoned from the Tribunal and offered for inspection of the parties. This paperbook is treated sufficient for the purpose of admission of this Appeal.

Summary

The Bombay High Court admitted an appeal concerning the treatment of the assessee's income as agricultural income under the IT Act. The court directed the Assessing Officer to exclude said income under section 10(1) of the IT Act. The original record related to the appeal was summoned from the Tribunal for inspection. The assessee waived service.