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The Commissioner of Income Tax-II, Kolhapur Versus M/s. Gajanan Agro Farms, Kolhapur

2015 (7) TMI 14 - BOMBAY HIGH COURT

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 o .....

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of law arises for consideration in the appeal as filed against findings of fact. - Decided against revenue. - ITA No. 1582 of 2013, ITA No. 1704 of 2013 - Dated:- 10-6-2015 - M S Sanklecha And N M Jamdar, JJ. For the Appellant : None For the Responde .....

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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 ou .....

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nt of ₹ 32,69,820/- for the assessment year 2002-03 and ₹ 35,13,376/- for the assessment year 2003-04 respectively should be treated as agricultural income of the assessee firm under Section 2(1A) of the Income Tax Act, 1961?" 4. The .....

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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 appea .....

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on examination of the agreement executed between the parties, found that the Respondent-Assessee is required to pay consideration for use of the land. Thus, the CIT(A) allowed the appeal of the Respondent-Assessee. 6. On further appeal by the Appella .....

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