https://www.taxtmi.com/caselaws?id=62337 The Tribunal affirmed the lower authorities' decision to disallow farming expenses as deductible business expenses for an assessee manufacturing extracts from spices. It emphasized that expenses related to agricultural operations, even if integral to the business, cannot be considered as business expenses under the IT Act, 1961. The judgment highlighted the constitutional division between agricultural and non-agricultural income, reiterating that agricultural income is exempt from tax and its expenses cannot be allowed as business expenses. The appeals were dismissed, upholding the disallowance of farming expenses. en-us Wed, 18 Feb 2009 00:00:00 +0530 Wed, 12 Jun 2013 17:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62337 The Tribunal affirmed the lower authorities' decision to disallow farming expenses as deductible business expenses for an assessee manufacturing extracts from spices. It emphasized that expenses related to agricultural operations, even if integral to the business, cannot be considered as business expenses under the IT Act, 1961. The judgment highlighted the constitutional division between agricultural and non-agricultural income, reiterating that agricultural income is exempt from tax and its expenses cannot be allowed as business expenses. The appeals were dismissed, upholding the disallowance of farming expenses. Case-Laws Income Tax Wed, 18 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62337