https://www.taxtmi.com/caselaws?id=66707 Income from prawn culture was held not to fall within agricultural income under section 2(1A) because the statutory definition requires rent or revenue derived from land used for agricultural purposes. The Tribunal treated the Income-tax Act as a self-contained code and confined the inquiry to that definition, holding that authorities on agricultural produce or other agricultural-tax questions were not controlling. It found that prawns are not produce of the land and that their cultivation depends on water rather than agriculture, following the binding Madras High Court view on fishery income. The income was therefore not exempt from tax. en-us Tue, 31 May 2005 00:00:00 +0530 Sat, 05 Mar 2011 17:56:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66707 Income from prawn culture was held not to fall within agricultural income under section 2(1A) because the statutory definition requires rent or revenue derived from land used for agricultural purposes. The Tribunal treated the Income-tax Act as a self-contained code and confined the inquiry to that definition, holding that authorities on agricultural produce or other agricultural-tax questions were not controlling. It found that prawns are not produce of the land and that their cultivation depends on water rather than agriculture, following the binding Madras High Court view on fishery income. The income was therefore not exempt from tax. Case-Laws Income Tax Tue, 31 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66707