https://www.taxtmi.com/caselaws?id=398835 Lease rent received for land claimed to be let for agricultural use was treated as taxable income, because agricultural income requires rent or revenue from land used for agricultural operations. The evidence showed the land was let for research and development or seed development purposes, not for cultivation, and there was no proof that the lessee carried out basic agricultural operations. The lump-sum receipt for several years' rent also supported the finding that the land was not used for agriculture. The exemption under section 10(1) was therefore unavailable, and the addition was sustained. en-us Wed, 08 Jul 2020 00:00:00 +0530 Thu, 24 Sep 2020 15:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398835 Lease rent received for land claimed to be let for agricultural use was treated as taxable income, because agricultural income requires rent or revenue from land used for agricultural operations. The evidence showed the land was let for research and development or seed development purposes, not for cultivation, and there was no proof that the lessee carried out basic agricultural operations. The lump-sum receipt for several years' rent also supported the finding that the land was not used for agriculture. The exemption under section 10(1) was therefore unavailable, and the addition was sustained. Case-Laws Income Tax Wed, 08 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398835