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...
The ITAT Bangalore held that income from tissue culture and nursery operations forms part of agricultural income under Section 10(1) when integrated with land-based cultivation.
The ITAT Chennai held that rejecting agricultural income solely for lack of receipts is unjustified when similar income was accepted in earlier and later years.
Kerala High Court denied the Section 10(37) capital gains exemption for land with trees, ruling that mere existence of rubber or fruit trees is insufficient. Assessee must prove actual agricultural activity and income in the preceding two years. The Court directed the AO to re-examine the alternate Section 54F exemption claim on merits.
The ITAT Panaji sent the disallowance of agricultural income back to the AO for fresh review, finding that the lower authorities ignored substantial documents and confirmations provided by the assessee. The ruling confirms that tax authorities must properly verify factual material and grant a fair hearing before disbelieving a farm income claim.
CBDT circular on C&AG report findings. Directs AOs to verify land records, sales, and expenses to ensure correct exemption of agricultural income.
A summary of agricultural income under Section 2(1A) of the Income-tax Act, covering rent, cultivation processes, and farm buildings. Learn about the partial tax integration regime, special rules for tea, coffee, and rubber, and the capital gains treatment for rural versus urban agricultural land.
Chennai ITAT ruled in Devaraya Pillai Subramanian case that interest on enhanced compensation for compulsory acquisition of agricultural land, exempt under S.10(37), is also exempt.
ITAT Chennai sets aside ₹1.03 crore addition; holds that official revenue records and expert reports outweigh Google Earth data in agricultural income cases.
Tribunal remands assessment of Namdhari Seeds on income from leased lands, awaiting Supreme Court ruling on whether contract farming income qualifies as agricultural income under section 10(1).
Understand the nuances of agricultural income taxation in India, including legal definitions, judicial tests, and how to compute tax on mixed income.
