https://www.taxtmi.com/caselaws?id=387633 The Tribunal ruled in favor of the assessee firm, holding that the firm was entitled to exemption on agricultural income despite not owning the land but engaging in agricultural activities on Indian land. The Tribunal emphasized that ownership of the land is not a prerequisite for claiming agricultural income, as revenue derived from agricultural activities should qualify as such income. The Tribunal found that the firm's partnership agreement for joint cultivation of land supported its entitlement to the exemption. Consequently, the Tribunal deleted the addition made by the authorities and allowed the assessee's appeal against the Revenue. en-us Tue, 30 Jul 2019 00:00:00 +0530 Sat, 26 Oct 2019 10:41:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387633 The Tribunal ruled in favor of the assessee firm, holding that the firm was entitled to exemption on agricultural income despite not owning the land but engaging in agricultural activities on Indian land. The Tribunal emphasized that ownership of the land is not a prerequisite for claiming agricultural income, as revenue derived from agricultural activities should qualify as such income. The Tribunal found that the firm's partnership agreement for joint cultivation of land supported its entitlement to the exemption. Consequently, the Tribunal deleted the addition made by the authorities and allowed the assessee's appeal against the Revenue. Case-Laws Income Tax Tue, 30 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387633