https://www.taxtmi.com/caselaws?id=284067 The Tribunal dismissed the Revenue's appeals and upheld the CIT(A)'s order, confirming that the amounts for A.Ys. 2002-03 and 2003-04 are agricultural income of the assessee firm. The Tribunal held that ownership of land is not a prerequisite for claiming agricultural income exemption under the Income-tax Act, and a firm can be considered an agriculturist and derive agricultural income. The Tribunal emphasized the importance of documentary evidence supporting agricultural income and found that the Assessing Officer's disallowance was based on improper interpretation of the law. en-us Wed, 31 Oct 2012 00:00:00 +0530 Fri, 25 Oct 2019 15:34:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284067 The Tribunal dismissed the Revenue's appeals and upheld the CIT(A)'s order, confirming that the amounts for A.Ys. 2002-03 and 2003-04 are agricultural income of the assessee firm. The Tribunal held that ownership of land is not a prerequisite for claiming agricultural income exemption under the Income-tax Act, and a firm can be considered an agriculturist and derive agricultural income. The Tribunal emphasized the importance of documentary evidence supporting agricultural income and found that the Assessing Officer's disallowance was based on improper interpretation of the law. Case-Laws Income Tax Wed, 31 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284067