https://www.taxtmi.com/caselaws?id=327975 An assessee claiming exemption for agricultural income must prove that the receipts genuinely fall within the statutory definition and are supported by cultivation capacity and commercial evidence. The claimed sale proceeds were found unsubstantiated because the supplementary invoices were raised on the same day as the original invoices, lacked corresponding movement of goods, carried no arm's length value in the transfer pricing report, and were not backed by reliable commercial practice. The conversion of a substantial part of the receivable into share capital or share application money further showed that the sums were real receipts. The addition for excess and unsubstantiated agricultural income was therefore restored. en-us Tue, 12 Apr 2016 00:00:00 +0530 Mon, 23 May 2016 10:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327975 An assessee claiming exemption for agricultural income must prove that the receipts genuinely fall within the statutory definition and are supported by cultivation capacity and commercial evidence. The claimed sale proceeds were found unsubstantiated because the supplementary invoices were raised on the same day as the original invoices, lacked corresponding movement of goods, carried no arm's length value in the transfer pricing report, and were not backed by reliable commercial practice. The conversion of a substantial part of the receivable into share capital or share application money further showed that the sums were real receipts. The addition for excess and unsubstantiated agricultural income was therefore restored. Case-Laws Income Tax Tue, 12 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327975