2014 (2) TMI 1197

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..... ) This appeal is directed against the judgment and order of the learned Tribunal dated 4th January, 2013 in relation to the assessment year 2008-09 and sought to be admitted on the following suggested questions of law: 1. Whether on the facts and circumstances of the case and in law, the Hon'ble ITAT was justified in upholding the order of the CIT (A) allowing deduction under Section 10(1) of th .....

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..... rned Counsel for the appellant, who says that the judgment on which reliance has been placed to render the decision has already been appealed against. We are of the view that because one matter is admitted, it cannot be said we cannot decide this appeal for admission purpose. In this case, we find that the assessee claimed for exemption under Section 10 (1) of the Income Tax Act, 1961 treating th .....

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..... in the agriculture field to have a larger quantity for sale in the market. Accordingly, we hold that the seed is a product of agricultural activity. Therefore, the sale of the same cannot be brought under the provisions of the Income Tax Act. We, therefore, upheld the decision of the learned Tribunal in this matter. Accordingly, the appeal is dismissed. No order as to costs.
Case laws, Decisi .....

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