Eucalyptus Tree Sale Income is Exempt: ITAT Confirms Revenue from Agricultural Land is Tax-Free

Razak Rowther Mohamed Saleem Vs ITO (ITAT Chennai) Eucalyptus Trees Grown on Own Agricultural Land = Agricultural Income – Tribunal Deletes Entire Addition Assessee filed return declaring total income of ₹7,65,160 & agricultural income of ₹85,84,619. The return was processed u/s 143(1) & later selected for limited scrutiny to verify sales receipts, claim of agricultural income & capital gains. AO accepted that the Assessee owned agricultural land (patta, chitta & land records were produced) & that eucalyptus (Kungiliyam) and wattle (Seegai) trees were grown on the lan...