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2001 (5) TMI 8 - HC - Income TaxCharitable Purposes, Agricultural Income, Exemption - "(i) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is justified in holding that the agricultural income will not form part of total income for the purpose of computing the accumulation of income in excess of 25 per cent. of the total income as laid down under section 11 of the Income-tax Act, 1961?" - "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is justified in holding that the agricultural income will not form part of total income for the purpose of computing the accumulation of income in excess of 25 per cent. of the total income as laid down under section 11 of the Income-tax Act 1961?" - Section 10(1) of the Act excludes agricultural income and in that view of the matter, we are of the opinion that the reference as sought for is uncalled for.
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