https://www.taxtmi.com/caselaws?id=376879 The High Court dismissed the appeal, affirming the Tribunal's decisions on both issues raised by the Revenue. The Court upheld the Tribunal's ruling that the commercial income from the sale of hybrid seeds qualified as agricultural income exempt under Section 10(1) of the Income Tax Act. Additionally, the Court agreed with the Tribunal that the non-compete fee received from the sale of business assets was to be treated as long-term capital gain, emphasizing the integral nature of the non-compete agreement to the business sale transaction. en-us Mon, 11 Mar 2019 00:00:00 +0530 Mon, 18 Mar 2019 08:58:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376879 The High Court dismissed the appeal, affirming the Tribunal's decisions on both issues raised by the Revenue. The Court upheld the Tribunal's ruling that the commercial income from the sale of hybrid seeds qualified as agricultural income exempt under Section 10(1) of the Income Tax Act. Additionally, the Court agreed with the Tribunal that the non-compete fee received from the sale of business assets was to be treated as long-term capital gain, emphasizing the integral nature of the non-compete agreement to the business sale transaction. Case-Laws Income Tax Mon, 11 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376879