Production of hybrid & open pollinated seed varieties is Agricultural Activity

DCIT Vs Pravardhan Seeds Pvt. Ltd. (ITAT Hyderabad) Brief facts of the case are that assessee is engaged in the business of production of hybrid seeds and open pollinated seed varieties of various crops like cotton, paddy, maize, sunflower, bajra, wheat, jowar, vegetables, etc. It is carrying out the agricultural operation in whole of India; that since it is not possible for the assessee to own all the land, as required for the purpose of its agricultural operations, it has accordingly taken certain land on lease from farmers and has also availed services of farmers by entering into seed produ...