https://www.taxtmi.com/caselaws?id=210432 Cultivation of roses on agricultural land through greenhouse and hydroponic methods retained its agricultural character because the activity still involved basic and subsequent agricultural operations with a real nexus to land, so the income qualified as agricultural income exempt under section 10(1). The depreciation claim on rose plants, after subsidy reduction, was remitted for fresh verification because the nature of the subsidy and its effect on actual cost required factual examination. Disallowances for professional fees, car insurance and similar ad hoc items were not sustained as separate taxable additions where they formed part of the same exempt agricultural stream. en-us Wed, 30 Nov 2011 00:00:00 +0530 Thu, 21 Apr 2016 17:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210432 Cultivation of roses on agricultural land through greenhouse and hydroponic methods retained its agricultural character because the activity still involved basic and subsequent agricultural operations with a real nexus to land, so the income qualified as agricultural income exempt under section 10(1). The depreciation claim on rose plants, after subsidy reduction, was remitted for fresh verification because the nature of the subsidy and its effect on actual cost required factual examination. Disallowances for professional fees, car insurance and similar ad hoc items were not sustained as separate taxable additions where they formed part of the same exempt agricultural stream. Case-Laws Income Tax Wed, 30 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210432