Growing of hybrid seeds is Agricultural Activity

DCIT Vs Genuine Seeds Pvt. Ltd (ITAT Pune) The CIT(A) while deciding the issue in the present case had in turn, relied on the decision of Pune Bench of Tribunal in ACIT Vs. Ajeet Seeds Ltd. (supra), which has been confirmed by the Hon’ble High Court. Consequently, we hold that growing of hybrid seeds in the case of assessee can never be held to be non-agricultural activity. Hence, the assessee is entitled to claim deduction under section 10(1) of the Act. FULL TEXT OF THE ITAT JUDGEMENT Both the appeals filed by Revenue are against separate orders of CIT(A)-1, Pune, dated 21.09.2016 and 13.0...