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Income Tax - Highlights / Catch Notes

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Exemption on agricultural income - firm is not the owner of such ...


Firm Exempt from Taxes on Agricultural Income from Partners' Land Ownership.

October 26, 2019

Case Laws     Income Tax     AT

Exemption on agricultural income - firm is not the owner of such agricultural land but the partners - assessee firm though not being the owner of the agricultural land in question is entitled to get exemption of the agricultural income derived from the said land owned by the partners of the firm.

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