https://www.taxtmi.com/caselaws?id=375815 The Court upheld the Tribunal's decision treating commercial income from the sale of hybrid seeds as agricultural income exempt under Section 10(1) of the Income Tax Act for Assessment Year 2006-07. Additionally, the Court affirmed the allocation of corporate expenses between two units based on a scientific basis, rejecting the Revenue's argument against the allocation method. Consequently, the appeal was dismissed as it did not raise any substantial question of law. en-us Wed, 23 Jan 2019 00:00:00 +0530 Tue, 26 Feb 2019 07:23:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375815 The Court upheld the Tribunal's decision treating commercial income from the sale of hybrid seeds as agricultural income exempt under Section 10(1) of the Income Tax Act for Assessment Year 2006-07. Additionally, the Court affirmed the allocation of corporate expenses between two units based on a scientific basis, rejecting the Revenue's argument against the allocation method. Consequently, the appeal was dismissed as it did not raise any substantial question of law. Case-Laws Income Tax Wed, 23 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375815