Whether sale proceeds of plants raised in nursery on land belonging to assessee consti­tutes income from agriculture – Held, yes

HIGH COURT OF UTTARAKHAND Commissioner of Income-tax, Meerut v. Green Gold Tree Farmers (P.) Ltd. P.C. VERMA AND B.C. KANDPAL, JJ. IT REFERENCE NO. 10 OF 2001 FEBRUARY 28, 2007 Order 1. By means of this reference, the Income-tax Appellate Tribunal has required the opinion of the High Court on the question, formulated as under :— “Whether on the facts and in the circumstances of the case, the ITAT was legally justified in confirming the view of the CIT(A) who held that the sale proceeds of the plants raised in the nursery on the land constituted the income from agricult...