Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2019 Year 2019 This

Agricultural income - correctly held that there is no merit in ...

Case Laws     Income Tax

July 2, 2019

Agricultural income - correctly held that there is no merit in assessing total receipts in the hands of assessee and at best, the AO could have determined the loss/income assessable in the hands of assessee - growing of hybrid seeds can never be held to be non-agricultural activity - entitled to claim deduction u/s 10(1)

View Source

 


 

You may also like:

  1. Income from undisclosed sources - addition of agricultural income - Assessment of agricultural income declared by the assessee for various assessment years was...

  2. The ITAT Bangalore, in a case involving unexplained money u/s. 69A, addressed deposits in a bank account during the demonetisation period. The DR argued that the...

  3. Agricultural income or not - Since no agricultural income has been shown by assessee’s husband in this year, the entire income has been considered as ‘income from other...

  4. The assessment u/s 153C mandates the recording of satisfaction by the Assessing Officer (AO) upon discovery of material likely to "have a bearing on the determination of...

  5. Agriculture income - The assessee on one hand pleaded before the authorities below earning of the lesser agricultural income and has now taken a contrary stand to accept...

  6. The Income Tax Appellate Tribunal held that the Assessing Officer cannot arbitrarily reduce agricultural income and add it as income from other sources based on mere...

  7. Income derived from agricultural activities is exempt u/s 10(1) of the Act. The assessee, a professional agricultural graduate, consistently declared agricultural income...

  8. Agricultural income - When all the documents have been brought on record by the assessee during assessment proceedings but not examined by the AO assessee cannot put...

  9. Undisclosed income of the assessee - bogus sale of agricultural produce - preponderance of probability theory - The Tribunal noted that the AO had not properly...

  10. The case involved a dispute over the determination of agricultural income, focusing on the variance between admitted and net agricultural income. The Assessing Officer...

  11. The assessee was a member of syndicates (association of persons or body of individuals) and had received share of profits from them. The tax authorities sought to tax...

  12. Correct head of income - characterization of receipts - income derived from saplings or seedlings grown in nursery - Agricultural income or income from other sources....

  13. Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

  14. The tribunal held that the monetary limit of Rs. 1 crore prescribed u/s 10(23C)(iiiad) read with Rule 2BC should be applied separately to the gross receipts of each...

  15. Interest u/s 234B - The term “assessed tax” has been defined in Explanation-1 of Section 234B (1). As per said Explanation-1 “assessed tax” means the tax on the total...

 

Quick Updates:Latest Updates