https://www.taxtmi.com/caselaws?id=337546 Income derived from a nursery and plant business was treated as agricultural income because the activity involved cultivation and allied operations on land, bringing it within the statutory concept under the Income-tax Act, 1961. The Court preferred the approach in Soundarya Nursery over a narrow distinction between basic and subsequent agricultural operations, and held that nursery-grown plants and saplings constitute agricultural produce on these facts. Explanation 3 to section 2(1A), deeming income from saplings or seedlings grown in a nursery as agricultural income, was also regarded as supportive of the assessee's case for the relevant assessment year. The income was therefore exempt under section 10(1), and the Revenue's challenge failed. en-us Thu, 01 Sep 2016 00:00:00 +0530 Mon, 09 Jan 2017 15:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337546 Income derived from a nursery and plant business was treated as agricultural income because the activity involved cultivation and allied operations on land, bringing it within the statutory concept under the Income-tax Act, 1961. The Court preferred the approach in Soundarya Nursery over a narrow distinction between basic and subsequent agricultural operations, and held that nursery-grown plants and saplings constitute agricultural produce on these facts. Explanation 3 to section 2(1A), deeming income from saplings or seedlings grown in a nursery as agricultural income, was also regarded as supportive of the assessee's case for the relevant assessment year. The income was therefore exempt under section 10(1), and the Revenue's challenge failed. Case-Laws Income Tax Thu, 01 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337546