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2011 (8) TMI 499 - AT - Income TaxAssessment under section 147/148 - Income derived from sapling and seedling in a nursery - agricultural income or not - The very fact that a survey operation was carried out at the farm of the assessee, a nursery and the bonsai plant grown in the farm had been physically verified by the Assessing Officer was therefore only an exercise by the Assessing Officer and the learned CIT(A) to bring on record the case law to be distinguished by assessee before the authorities below - The substantial question therefore of the assessee having carried out agricultural operation in the impugned assessment years is merely on the basis of presumptions and assumptions in the minds of the assessing authorities to the extent that nature which is full of surprises and bounty has been subjected to consideration when income was proposed to be considered as non-agricultural - A farmer nurtures a plant or saplings which it gets after sowing seeds is also done by the assessee when it is to grow till such time it gets the fruit of labour as a miniature to be considered as carrying out agricultural operations for the produce to generate agricultural income and has been returned with appropriately by the assessee and is therefore, setting aside the impugned order of the learned CIT(A), direct the Assessing Officer to consider the same as exempt under the provisions of section 10(1) of the Income-tax Act,1961 - Decided in favour of assessee.
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