https://www.taxtmi.com/caselaws?id=260388 Subsidy receipts that merely reimburse transportation, seed bank maintenance and similar operational expenditure are not agricultural income exempt under section 10; they are taxable as revenue receipts, with the related expenditure deductible so that only the net amount is brought to tax. Where the receipts are not exempt income, section 14A has no application and no disallowance can be made in respect of those receipts. en-us Fri, 22 May 2015 00:00:00 +0530 Thu, 11 Jun 2015 06:21:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260388 Subsidy receipts that merely reimburse transportation, seed bank maintenance and similar operational expenditure are not agricultural income exempt under section 10; they are taxable as revenue receipts, with the related expenditure deductible so that only the net amount is brought to tax. Where the receipts are not exempt income, section 14A has no application and no disallowance can be made in respect of those receipts. Case-Laws Income Tax Fri, 22 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260388