https://www.taxtmi.com/caselaws?id=180556 Agricultural land situated beyond the municipal limits and used for was held not to constitute stock-in-trade or a trading adventure merely because it was sold, where the land was outside the statutory definition of capital asset and the assessee was an agriculturist not regularly dealing in land. The surplus on sale was therefore not assessable as business income. However, the addition for unexplained agricultural expenditure under section 69C was sustained because the record showed provision of branded seeds and fertiliser to cultivators, and the assessee did not rebut that evidence through cross-examination or reliable contrary material. en-us Fri, 30 Nov 2012 00:00:00 +0530 Tue, 17 Apr 2018 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180556 Agricultural land situated beyond the municipal limits and used for was held not to constitute stock-in-trade or a trading adventure merely because it was sold, where the land was outside the statutory definition of capital asset and the assessee was an agriculturist not regularly dealing in land. The surplus on sale was therefore not assessable as business income. However, the addition for unexplained agricultural expenditure under section 69C was sustained because the record showed provision of branded seeds and fertiliser to cultivators, and the assessee did not rebut that evidence through cross-examination or reliable contrary material. Case-Laws Income Tax Fri, 30 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180556