This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Income from Cultivation of parent hybrid seed is non agricultural Income and taxable as business income
Case Law Details
- Case Name
- Pioneer Overseas Corporation Vs. DDIT (International Taxation) [ITAT Delhi]
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All ITAT, ITAT Delhi
RELEVANT PARAGRAPH
52. From the nature of activity of the assessee as explained by the assessee, it is seen that the assessee in India is engaged in the business of the production and sale of various varieties of parent seed sold to its Joint Venture Company. During the year under consideration, the assessee has produced 1,81,319 kgs of seeds having opening stock of seed at 41,998 kgs, out of which 66,635 kgs of seeds (including seeds for own consumption of 1765 kgs) have been sold to its joint venture company leaving a closing stock of seeds at 1.15.995 kgs. For production of parent seed in l...
