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Income Tax - Highlights / Catch Notes

Home Highlights September 2013 Year 2013 This

Nature of Income - Dealing in vegetable seeds - Agricultural ...


Income from Selling Vegetable Seeds Classified as Agricultural, Not Business, Income Despite Profit Margin.

September 13, 2013

Case Laws     Income Tax     AT

Nature of Income - Dealing in vegetable seeds - Agricultural Income OR Business Income - the percentage of margin earned on sale of agricultural produce cannot be the basis for bifurcating margin from business activity and margin from agricultural activity when whole of the expenditure is allowable by the Assessing Officer as for carrying out agricultural operations - AT

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