https://www.taxtmi.com/caselaws?id=249837 Processing of raw peas into pea seeds, including uprooting, thrashing and winnowing to make the produce fit for market, was treated as an ordinary agricultural operation within the statutory definition of agricultural income. The existence of a ready market did not alter that characterisation. On the same facts, no incremental profit was found taxable as non-agricultural income under Rule 7(1) and Rule 7(2) for the assessment year in issue, because the prevailing market rate of raw peas did not disclose any taxable excess. en-us Thu, 17 Jul 2014 00:00:00 +0530 Fri, 25 Jul 2014 14:19:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249837 Processing of raw peas into pea seeds, including uprooting, thrashing and winnowing to make the produce fit for market, was treated as an ordinary agricultural operation within the statutory definition of agricultural income. The existence of a ready market did not alter that characterisation. On the same facts, no incremental profit was found taxable as non-agricultural income under Rule 7(1) and Rule 7(2) for the assessment year in issue, because the prevailing market rate of raw peas did not disclose any taxable excess. Case-Laws Income Tax Thu, 17 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249837