https://www.taxtmi.com/caselaws?id=264126 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision that the income derived from the sale of plants from a nursery through tissue culture activities constituted agricultural income. The Tribunal found that the activities involved basic agricultural operations and were covered by the newly inserted Explanation (3) to Section 2(1A) of the Income Tax Act. The Tribunal dismissed the Revenue's appeals for assessment years 2007-08 and 2008-09, affirming that the income was exempt under Section 10(1) as agricultural income. en-us Fri, 28 Aug 2015 00:00:00 +0530 Fri, 18 Sep 2015 08:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264126 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision that the income derived from the sale of plants from a nursery through tissue culture activities constituted agricultural income. The Tribunal found that the activities involved basic agricultural operations and were covered by the newly inserted Explanation (3) to Section 2(1A) of the Income Tax Act. The Tribunal dismissed the Revenue's appeals for assessment years 2007-08 and 2008-09, affirming that the income was exempt under Section 10(1) as agricultural income. Case-Laws Income Tax Fri, 28 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264126