https://www.taxtmi.com/caselaws?id=23667 The High Court ruled in favor of the assessee, upholding the exemption of income derived from the marketing of agricultural produce under section 81(i)c of the Income-tax Act, 1961. The court clarified that the income from the purchase and sale of agricultural produce from members is exempt from income tax. Additionally, the court determined that the subsidy received from the National Co-operative Development Corporation should be deducted while computing the total income of the assessee, as it was related to the sale and purchase of agricultural produce from members. en-us Tue, 04 Apr 1989 00:00:00 +0530 Wed, 23 Dec 2009 11:25:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23667 The High Court ruled in favor of the assessee, upholding the exemption of income derived from the marketing of agricultural produce under section 81(i)c of the Income-tax Act, 1961. The court clarified that the income from the purchase and sale of agricultural produce from members is exempt from income tax. Additionally, the court determined that the subsidy received from the National Co-operative Development Corporation should be deducted while computing the total income of the assessee, as it was related to the sale and purchase of agricultural produce from members. Case-Laws Income Tax Tue, 04 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23667