Income Tax : The Income Tax Department has issued detailed FAQs explaining the meaning, computation, and tax treatment of agricultural income u...
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 : The issue concerns high-pitched additions proposed under faceless scrutiny even where agricultural income is exempt and fully docu...
Income Tax : ITAT held that agricultural land within the prescribed municipal distance is a capital asset and restricted the on-money addition ...
Income Tax : The ITAT held that the addition under Section 69A could not be sustained as the assessee had produced land records, agricultural s...
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 : CBDT circular on C&AG report findings. Directs AOs to verify land records, sales, and expenses to ensure correct exemption of agri...
The issue concerned taxation of alleged on-money from sale of land. The Tribunal held that once the land was agricultural and outside section 2(14), capital gains and on-money additions could not survive.
The Tribunal held that demonetization-period cash deposits were supported by agricultural income evidence. The section 68 addition was deleted after accepting bills, vouchers, and landholding details.
The Tribunal held that while interest on enhanced compensation was taxable as per settled law, the exemption claim for land compensation required verification. The matter was remanded for fresh examination.
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.
