https://www.taxtmi.com/caselaws?id=382386 The Tribunal upheld that growing hybrid seeds constituted agricultural activity, allowing the assessee to claim deduction under section 10(1) of the Income-tax Act. The Tribunal found the Assessing Officer's approach flawed as it taxed total receipts instead of determining actual income, following High Court precedent that growing seeds involved agricultural operations. The decision applied to similar appeals, resulting in the dismissal of both Revenue appeals. en-us Thu, 27 Jun 2019 00:00:00 +0530 Sun, 30 Jun 2019 17:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382386 The Tribunal upheld that growing hybrid seeds constituted agricultural activity, allowing the assessee to claim deduction under section 10(1) of the Income-tax Act. The Tribunal found the Assessing Officer's approach flawed as it taxed total receipts instead of determining actual income, following High Court precedent that growing seeds involved agricultural operations. The decision applied to similar appeals, resulting in the dismissal of both Revenue appeals. Case-Laws Income Tax Thu, 27 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382386