Friday, July 23, 2021

Income from sale of saplings and seedlings grown in nursery is deemed to be agricultural income: ITAT

INCOME TAX : Income derived by assessee through activities other than sale of plants raised in its own nursery was not in nature of agricultural income falling within definition of section 2(1A), Explanation 3

from www.taxmann.com Latest Case Laws https://ift.tt/3wZ4H0z

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...