2019 (3) TMI 900

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..... R P. C. :- 1. The Revenue has filed this Appeal raising following questions for our consideration : 1. Whether in law and on the facts and circumstances of the case, was the Tribunal correct in treating its commercial income of the sale of hybrid seeds, as agricultural income exempt under Section 10(1) of the Act ? 2. Whether in law, and on the facts of the instant case was the Tribunal i .....

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..... ssessee upon which the Revenue has filed this Appeal raising the first question noted above. 3. This issue has come before this Court on several occasions, concerning the same Assessee. For the Assessment Year 19931994 to the Assessment Year 20042005, group of Income Tax Appeals being Income Tax Appeal No.633 of 2010 and connected Appeals, were rejected by this Court by common order dated 5th Aug .....

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..... but that it would give rise to a short term capital gain. Both sides went in Appeal before the Tribunal. The Tribunal held that the receipt was capital and it gave rise to long term capital gain. Thereupon, the Revenue has filed this Appeal. 6. Having heard the learned Counsel for the parties, we note that the Tribunal recorded that the NonCompete Agreement was part of the agreement for the sale .....

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