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2015 (2) TMI 67 - HC - Income TaxActivity of growing roses, chikkus - whether an agricultural income exempt from tax? - Held that:- No hesitation in holding that the sale proceeds from the business of nursery carried on by the assessee constitute income from agriculture. See CIT vs. Soundarya Nursery (1998 (8) TMI 37 - MADRAS High Court) wherein the decision in the case of CIT vs. Raja Benoy Kumar Sahas Roy (1957 (5) TMI 6 - SUPREME Court) was considered and also SHRI PURANSINGH M. VERMA Versus THE CIT [ 2014 (11) TMI 901 - GUJARAT HIGH COURT] holding that the sale proceeds from the business of nursery carried on by the assessee constitute income from agriculture. Therefore the question of law framed in the reference and the tax appeal is answered against the Revenue and in favour of the assessee.
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