https://www.taxtmi.com/caselaws?id=758488 Agricultural income was accepted as exempt where the assessee consistently declared such receipts in earlier and later years, owned agricultural land, and produced sale bills and supporting material. The Tribunal held that the mere absence of separate expense disclosure in the return did not justify treating the income as bogus when the agricultural background, landholding, and consistency of receipts were not in dispute. It further held that the assessee's agricultural activity did not trigger the books of account requirement under section 44AA. The addition was deleted and the exemption claim was accepted. en-us Fri, 06 Sep 2024 00:00:00 +0530 Sat, 14 Sep 2024 08:24:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758488 Agricultural income was accepted as exempt where the assessee consistently declared such receipts in earlier and later years, owned agricultural land, and produced sale bills and supporting material. The Tribunal held that the mere absence of separate expense disclosure in the return did not justify treating the income as bogus when the agricultural background, landholding, and consistency of receipts were not in dispute. It further held that the assessee's agricultural activity did not trigger the books of account requirement under section 44AA. The addition was deleted and the exemption claim was accepted. Case-Laws Income Tax Fri, 06 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758488