Income Tax : Many taxpayers receive notices despite exemption due to AIS-ITR mismatches. The case highlights that non-reporting of even exempt ...
Income Tax : The new law narrows the scope of agricultural income by introducing strict conditions and exclusions. It emphasizes documentation ...
Income Tax : The issue is whether agricultural income affects eligibility for rebate under Section 87A. The article explains that legally, tota...
Income Tax : The case explains how agricultural income remains tax-free under Section 10(1) but affects tax rates on other income. Key takeaway...
Income Tax : Understand how agricultural income is exempt under the Income Tax Act, 1961, why only genuine cultivation qualifies, and where cou...
Income Tax : The issue concerns high-pitched additions proposed under faceless scrutiny even where agricultural income is exempt and fully docu...
Income Tax : The court examined whether reassessment could proceed without any incriminating material from search. It held that absence of such...
Income Tax : The issue involved classification of land for capital gains taxation. The Court held that revenue records and evidence of agricult...
Income Tax : The issue involved denial of exemption on sale of agricultural land. The Tribunal held that the land met conditions of Section 2(1...
Income Tax : Tribunal holds buyer’s intended industrial use does not alter land classification; gains from sale of agricultural land held non...
Income Tax : The issue was whether sale of agricultural land attracts capital gains tax. The Tribunal held that land situated beyond prescribed...
Income Tax : CBDT circular on C&AG report findings. Directs AOs to verify land records, sales, and expenses to ensure correct exemption of agri...
In the case of DCIT Vs Pravardhan Seeds Pvt. Ltd., ITAT Hyderabad ruled that agricultural activities for seed production qualify for tax exemption under section 10(1) of the Income Tax Act.
Legal battle: Anilkumar Kantilal Trivedi challenges ITO’s Section 50C addition on agricultural land sale. Appeal details and key arguments analyzed.
Understand agriculture income and its taxation in India. Learn about exemptions, reporting, and the Income Tax Act’s Section 10(1) provisions. File your Income Tax Return (ITR) accurately.
Malook Singh Vs PCIT (ITAT Delhi) CIT(A) held that cultivation of high quality foundation seeds of peas, wheat, paddy and potato is different from normal agricultural activity. Against this, the assessee has submitted all the bills & vouchers for expenses like lease rent, power bills, fertilizer, seeds, labour, wages and details of sale and mandi […]
Assessee has established on record that it had receipts from sale of agricultural produce, only because some invoices relating to sale are not available, assessee’s claim cannot be More so, considering reasonable quantum of sale proceeds.
Find out how Partial Integration of agricultural income with non-agricultural income can benefit you with higher rates of income tax, as defined in section 10(1) of the Income Tax Act, 1961
Doloo Tea Company (India) Ltd Vs ACIT (ITAT Kolkata) Admittedly, in this case in hand, the land has already been treated as agricultural land not capital in nature and the tea bushes have been cultivated by the assessee to obtain tea leaves and the shade trees are grown by the assessee for the protection of […]
Rural agricultural land converted for non-agricultural purposes but factually continued to be used for agriculture is not a capital asset in spite of conversion
Understand the concept of capital gains tax on agricultural land as per the Income Tax Act. Learn about the definitions and exemptions related to capital assets.
ITAT Mumbai held that apart from the purchase and sale deeds of conveyance and 7/12 extracts from land revenue records, no other evidence has been brought on record by the assessee of having cultivated the land or carrying any agricultural activity. Accordingly, the same is treated as ‘capital asset’.
