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...
Agricultural income was taxed as other income in a best judgment assessment due to non-compliance. The Tribunal restored the matter for fresh assessment to ensure a fair hearing.
This article explains why agricultural income lies outside the Income-tax Act and how constitutional provisions grant exclusive taxing powers to States. It highlights the practical limits of this exemption through judicial interpretation.
The issue concerns high-pitched additions proposed under faceless scrutiny even where agricultural income is exempt and fully documented. The key takeaway is the need for evidence-based verification before adverse action.
The issue was whether agricultural income was rightly disallowed for lack of proof. The tribunal deleted the addition after the Revenue’s own inspection confirmed active cultivation, reinforcing that verified facts override assumptions.
Telangana High Court held that the income derived from tissue culture operations by the assessee qualifies as agricultural income and hence exempted from tax under Section 10(1) of the Income Tax Act. Accordingly, the present writ stands allowed.
The Tribunal examined whether agricultural land qualified as a non-capital asset and upheld taxation after finding it within the prescribed municipal distance. The ruling reiterates that physical verification and reliable evidence prevail over unsupported certificates.
The Tribunal held that agricultural income cannot be disallowed merely due to a year-on-year increase. Since land ownership, crop details, and receipts were undisputed, the addition was deleted.
Explains that revenue records alone don’t qualify land as agricultural; actual use determines tax treatment. Key takeaway: Land used commercially may attract capital gains tax despite agricultural classification.
Tribunal held that AO erred by rejecting agricultural income based on estimated rates and online data while ignoring affidavits from buyers. It ruled that uncontroverted evidence cannot be replaced by assumptions, leading to deletion of ₹1.20 crore addition.
Tribunal reviewed onion cultivation expenses claimed at 21% of gross receipts and found CIT(A)’s 35% estimate excessive. Net agricultural income accepted at Rs.67.12 lakh, partly allowing the appeal.
