https://www.taxtmi.com/caselaws?id=214849 Expenditure incurred for acquiring Emu birds and for their feeding and maintenance was treated as allowable business expenditure because it had a direct nexus with the sale activity and earning of income. Income from coconut cultivation was held to be agricultural income to the extent of fifty per cent, as the existence of plantation activity and land-based cultivation was accepted, though the claim was not fully substantiated. Receipts from turmeric sales were also treated as agricultural income, since delayed sale after storage did not alter the agricultural character of the produce and the revenue addition rested on presumption rather than rebutted evidence. en-us Fri, 25 May 2012 00:00:00 +0530 Wed, 18 Jul 2012 07:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214849 Expenditure incurred for acquiring Emu birds and for their feeding and maintenance was treated as allowable business expenditure because it had a direct nexus with the sale activity and earning of income. Income from coconut cultivation was held to be agricultural income to the extent of fifty per cent, as the existence of plantation activity and land-based cultivation was accepted, though the claim was not fully substantiated. Receipts from turmeric sales were also treated as agricultural income, since delayed sale after storage did not alter the agricultural character of the produce and the revenue addition rested on presumption rather than rebutted evidence. Case-Laws Income Tax Fri, 25 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214849