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2017 (8) TMI 473 - AT - Income TaxClaim of exemption u/s.10(1) - agricultural nature of the income earned out of the sale of the flowering plants developed out of imported mother plants in Tissue Culture Laboratory - Held that:- As decided in assessee's own case for earlier AYs [2017 (8) TMI 445 - ITAT PUNE] the authorities belong indeed erred in law and on facts of this case in holding that the impugned income is not agricultural income. We, therefore, direct the Assessing Officer to treat the said income as agricultural income under section 2 (1A)(b)(i) of the Act. As a corollary to this direction, the Assessing Officer shall also exclude the said income from the total income under section 10(1) of the Act. The assessee gets the relief accordingly.
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