753/CBDT. - Income Tax - 753/CBDT

INSTRUCTION NO. 753/CBDT Dated : September 5, 1974 Section(s) Referred: 10(1) ,10(27) Statute: Income - Tax Act, 1961 The question of the assessibility of income from fresh water fish farming came up for Board's consideration recently. This income does not enjoy the exemption from Income-tax granted either by Section 10(1) of the Income-tax Act, 1961 to agricultural income or by Section 10(27) to income derived from a business of livestock brooding or poultry or dairy farming. 2. All but one Commissioner of Income-tax to whom the matter was referred have reported that there is no assessee deriving income from fresh water fish farming assessed in their charges. Board desires that an intensive survey should be carried out in all charges to bring such assessees on the records of the Department. A report indicating the results of the survey may please be furnished so as to reach the Board by 1st of November,1974.