https://www.taxtmi.com/caselaws?id=20017 Agricultural income claimed as exempt under section 4 of the Agricultural Income-tax Act, 1950 must be shown by reliable and separate accounts to have been applied to charitable or religious purposes in the State. Where an assessee has both agricultural and non-agricultural income but fails to produce verifiable records identifying the exempt application of agricultural income, the taxing authority may adopt a reasonable apportionment from consolidated accounts. In the absence of proof of exclusive application to the exempt purposes, full exemption is not available and tax may be levied on the portion not established as exempt. en-us Thu, 07 Oct 1993 00:00:00 +0530 Wed, 11 Nov 2009 11:37:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20017 Agricultural income claimed as exempt under section 4 of the Agricultural Income-tax Act, 1950 must be shown by reliable and separate accounts to have been applied to charitable or religious purposes in the State. Where an assessee has both agricultural and non-agricultural income but fails to produce verifiable records identifying the exempt application of agricultural income, the taxing authority may adopt a reasonable apportionment from consolidated accounts. In the absence of proof of exclusive application to the exempt purposes, full exemption is not available and tax may be levied on the portion not established as exempt. Case-Laws Income Tax Thu, 07 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20017