https://www.taxtmi.com/caselaws?id=763765 Profit from the sale of jaggery was held not to constitute agricultural income because the assessee's sugarcane had been processed into a distinct commercial commodity. The Court accepted the factual finding that the assessee had machinery for converting sugarcane into jaggery and could not reopen that finding at appellate stage. Applying its earlier ruling, the Court held that processed sugarcane and jaggery are different commodities, and that the sale proceeds lacked the direct nexus with agricultural operations required to retain agricultural character. The questions of law were answered against the assessee and the taxability challenge failed. en-us Mon, 02 Dec 2024 00:00:00 +0530 Thu, 26 Dec 2024 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763765 Profit from the sale of jaggery was held not to constitute agricultural income because the assessee's sugarcane had been processed into a distinct commercial commodity. The Court accepted the factual finding that the assessee had machinery for converting sugarcane into jaggery and could not reopen that finding at appellate stage. Applying its earlier ruling, the Court held that processed sugarcane and jaggery are different commodities, and that the sale proceeds lacked the direct nexus with agricultural operations required to retain agricultural character. The questions of law were answered against the assessee and the taxability challenge failed. Case-Laws Income Tax Mon, 02 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763765