https://www.taxtmi.com/caselaws?id=15908 The High Court affirmed the Tribunal's decisions, ruling in favor of the Revenue. The deduction for excluding the agricultural portion of income was to be calculated in accordance with rule 7(2)(a) of the IT Rules. The court upheld that depreciation on farm assets used for agricultural income could not be claimed against non-agricultural income, denying the assessee's claim for depreciation. The Tribunal's decisions were upheld, denying the assessee's claims on income computation and depreciation entitlement on farm assets. en-us Mon, 23 Mar 1998 00:00:00 +0530 Sat, 29 Aug 2009 17:27:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15908 The High Court affirmed the Tribunal's decisions, ruling in favor of the Revenue. The deduction for excluding the agricultural portion of income was to be calculated in accordance with rule 7(2)(a) of the IT Rules. The court upheld that depreciation on farm assets used for agricultural income could not be claimed against non-agricultural income, denying the assessee's claim for depreciation. The Tribunal's decisions were upheld, denying the assessee's claims on income computation and depreciation entitlement on farm assets. Case-Laws Income Tax Mon, 23 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15908