Exemption u/s 10 (1) - agriculture income - contract farming - ...

Income from Contract Farming Not Exempt u/s 10(1) of Income Tax Act, Court Rules on Leasing Land Operations.

December 6, 2022

Case Laws Income Tax AT

Exemption u/s 10 (1) - agriculture income - contract farming - Merely because the assessee took the land on lease for conducting their research operations to produce the foundation seeds of the hybrid varieties, such a lease cannot ipso facto make the operations of the assessee as contract farming. Contract farming in the context of this case would be that if the assessee outsources the agricultural operations which they are doing for themselves now, to some other third party. - AT

View Source

← Previous Next →

Exemption u/s 10 (1) - agriculture income - contract farming - ...

Income from Contract Farming Not Exempt u/s 10(1) of Income Tax Act, Court Rules on Leasing Land Operations.

December 6, 2022

Case Laws Income Tax AT

You may also like:

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

Lease income derived from the agricultural land - "income from other source" OR “agricultural income” which is exempt from tax u/s.10(1) - unless there is some measure...

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...

Whether income of VCF shall be exempt only to the extent it is from the investment in venture capital undertaking ? - Exemption under section 10(23FB) and exemption...

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...

Compensation received under an award passed by the Land Acquisition Officer u/s 24(1) of the Right to Fair Compensation and Transparency in Land Acquisition,...

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...

CENVAT Credit - exempt goods - On merits, it is a case that the appellant is manufacturing dutiable goods not exempted goods. Some clearances were exempted from payment...

Deemed income from house property - farm house - whether land was used for the agriculture/horticulture business and hence, it shall be treated as an exempted income u/s...

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...

Exemption from payment of sales tax - poultry farm on leased land - exemption was rejected on the ground that the assessee was not the owner of the land where the farm...

Income-tax (seventh Amendment) Rules, 2012 - Amends rule 12(1) - Notification

Hostel accommodation services provided for 10 months' duration are exempt under Serial Number 12 of Notification 12/2017-Central Tax (Rate), as per the Madras High Court...

Scope of Deposits - amounts collected by the petitioners for sale of immovable property as advance - would come under the purview of ‘deposits’ or would exempt from the...

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...

Quick Updates: