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 ...


Legal Ruling: Growing Hybrid Seeds is Agricultural Activity, Eligible for Deduction u/s 10(1) of Income Tax Act.

July 2, 2019

Case Laws     Income Tax     AT

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. Agricultural activity or not - production of specialized seeds in the leased lands, (1) making of certified seeds; (2) undertaking other processing activities and...

  2. Exemption u/s 10(1) - Agricultural Income or not - A.O. held that the portion relating to other than supply of plants and saplings cannot be characterized as...

  3. Income derived by the assessee from the production of foundation/basic seeds as well as hybrid seeds constituted income eligible for exemption under S.10(1) of the Act,...

  4. Disallowance of bad debts as claimed u/s 36(1)(viia) - deduction claimed @10% of aggregate average advances - AO is directed to make relevant enquires and verifications...

  5. Agricultural income - exemption u/s 10(1) - Merely because instead of horizontal use on soil, vertical space is used, does the growth of mushrooms stand apart from...

  6. Revision u/s 263 - agricultural activity - Seeds cannot be produced without basic agricultural activities. The assessee has sold the seeds and must have carried out the...

  7. Eligibility to claim refund of IGST - The availing exemption under Notification No.79/2017-Cus dated 13.10.2017 in respect of additional duty of Customs under...

  8. Income derived from cultivation and sale of white button mushrooms was characterized as agricultural income exempt u/s 10(1) of the Income Tax Act, following the...

  9. ITAT determined that income derived from mushroom cultivation qualifies as agricultural income exempt under section 10(1). Following precedent from Inventaa Industries,...

  10. Appellant challenged inclusion of royalty and cost of advertisement incurred in India in assessable value of imported goods u/rs 10(1)(c) and 10(1)(e) of Customs...

  11. Deduction u/s 10(37) - sale of agricultural land - the land was agricultural land and was being used for agricultural operations prior to the date of acquisition during...

  12. The High Court ruled on the constitutional validity of Rule 96(10) of the Central Goods and Services Tax (CGST) Rules, 2017, which was challenged as being ultra vires...

  13. Deduction u/s 36(1) (viia) - section 36(1) (viia) clearly provides for deduction of 7.5 % of the total income and a further deduction of 10 % of the aggregate of...

  14. ITAT ruled favorably on multiple issues for the banking assessee. The tribunal allowed deduction under s.36(1)(viia) for NPA provisions, holding them equivalent to...

  15. Exemption from GST - Seeds - seeds received, processed, packed and returned by the Applicant, as job worker, as seeds for sowing are 'agricultural produce' - - Supply of...

 

Quick Updates:Latest Updates