https://www.taxtmi.com/caselaws?id=409151 The High Court of Madras dismissed two appeals regarding the classification of profit from selling jaggery as agricultural income for the assessment year 2003-2004. The court ruled that converting sugarcane into jaggery was not essential for marketability, indicating a profit-driven motive rather than agricultural necessity. Emphasizing that agricultural income should be derived directly from land by agricultural operations while retaining the original character of the produce, the court held that extending agricultural income exemption to jaggery sales could lead to revenue loss. en-us Tue, 22 Jun 2021 00:00:00 +0530 Wed, 30 Jun 2021 09:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409151 The High Court of Madras dismissed two appeals regarding the classification of profit from selling jaggery as agricultural income for the assessment year 2003-2004. The court ruled that converting sugarcane into jaggery was not essential for marketability, indicating a profit-driven motive rather than agricultural necessity. Emphasizing that agricultural income should be derived directly from land by agricultural operations while retaining the original character of the produce, the court held that extending agricultural income exemption to jaggery sales could lead to revenue loss. Case-Laws Income Tax Tue, 22 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409151