Agricultural income depends on actual agricultural operations, not land ownership, where the factual finding is unshaken.

Agricultural income or loss can be recognised where the assessee proves actual agricultural operations, even if the lands are not owned by it. The Tribunal found, as a matter of fact, that the assessee had carried on such operations and that the revenue had accepted similar treatment in earlier years. Because no material was produced to displace that factual finding, interference was not warranted. The claim was therefore upheld and the revenue's challenge failed.

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Issues: Whether agricultural losses or profits claimed by the assessee were rightly allowed on the basis that the assessee had actually carried on agricultural operations, even though the lands did not belong to it.

Analysis: The Tribunal recorded a finding of fact that the assessee had in fact carried on agricultural operations and that similar treatment in earlier assessment years had been accepted by the revenue. For agricultural income, ownership of the land is not indispensable if actual agricultural operations by the assessee are established. In the absence of any material to dislodge that factual finding, interference was not warranted.

Conclusion: The claim was upheld and the revenue's challenge failed.

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