1979 (9) TMI 111 - AT - Income Tax

Summary

The appeal relates to the exemption claim of income from leasing a tea estate. The ITO rejected the claim, but the AAC granted relief by taxing only 40% of the lease income. The revenue appealed, arguing the income was not primarily from agricultural land. The tribunal confirmed the AAC's decision, stating the lease income falls under the definition of agricultural income. The appeal was dismissed.