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2015 (7) TMI 14 - BOMBAY HIGH COURT

2015 (7) TMI 14 - BOMBAY HIGH COURT - TMI - Agricultural income - assessee was in possession of the land in question for the cultivation of sugarcane from the Maharashtra State Farming Corporation (MSFC) - Held that:- We find that the CIT(A) and the Tribunal have correctly recorded a finding of fact that the Respondent-Assessee did carry on activity of cultivation of sugarcane and the income derived therefrom, is agricultural income. This finding of fact is neither shown to be perverse and/or ar .....

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n 260A of the Income Tax Act, 1961 (the Act) challenge the common order dated 31st October, 2012 passed by the Income Tax Appellate Tribunal (Tribunal). The impugned common order pertains to the Assessment Years 2002-03 and 2003-04. 3. The Revenue has urged the following question of law for our consideration: "Whether on the facts and in the circumstances of the case and in law, the Income Tax Appellate Tribunal, Pune Bench, Pune is justified in not interfering with the Commissioner of Inco .....

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nt of agricultural income not being included in total income. The Assessing Officer denied the benefit of exemption as agricultural income for both the Assessment Years. This on the ground that the Respondent-Assessee had not been able to show that agricultural land is owned by it. 5. In appeal, the Commissioner of Income Tax (Appeals) [CIT(A)] on consideration of facts concluded that the Respondent was in possession of the land in question for the cultivation of sugarcane from the Maharashtra S .....

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