https://www.taxtmi.com/caselaws?id=256067 The High Court ruled in favor of the assessee, upholding the Income-tax Appellate Tribunal's decision that income from the nursery business constituted agricultural income exempt from tax. The Court emphasized the importance of the operations carried out on the land, such as tilling, planting, and subsequent activities, in determining the nature of income earned. The Revenue's appeals were dismissed, with the Court affirming that the sale proceeds from the nursery business were exempt from tax based on the activities performed by the assessee. en-us Mon, 01 Dec 2014 00:00:00 +0530 Tue, 03 Feb 2015 06:02:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256067 The High Court ruled in favor of the assessee, upholding the Income-tax Appellate Tribunal's decision that income from the nursery business constituted agricultural income exempt from tax. The Court emphasized the importance of the operations carried out on the land, such as tilling, planting, and subsequent activities, in determining the nature of income earned. The Revenue's appeals were dismissed, with the Court affirming that the sale proceeds from the nursery business were exempt from tax based on the activities performed by the assessee. Case-Laws Income Tax Mon, 01 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256067