Ownership not key in agricultural activities; High Court upholds profits claims

The High Court of Bombay dismissed appeals where agricultural losses/profits claimed by the assessee were disallowed by the assessing officer but allowed by the CIT(A) and confirmed by the ITAT. The Tribunal found that the assessee carried out agricultural operations, and ownership of the land was not a requirement as long as agricultural activities were conducted. The appeals were dismissed with no order as to costs.

---

---

The High Court of Bombay dismissed appeals where agricultural losses/profits claimed by the assessee were disallowed by the assessing officer, but allowed by the CIT(A) and confirmed by the ITAT. The Tribunal found that the assessee carried out agricultural operations, and it is not necessary for the assessee to own the land as long as agricultural operations are actually conducted. The appeals were dismissed with no order as to costs.

---