https://www.taxtmi.com/caselaws?id=463575 Receipts from saplings and seedlings grown in a nursery were examined against the statutory exclusion for agricultural income under Section 10(1), read with the deeming provision in Explanation 3 to Section 2(1A) for nursery income from assessment year 2009-10. Because the lower authorities had not tested the claim on that legal footing, the related issues of depreciation, R&D expenditure, and book profit computation were treated as dependent on the primary agricultural income question. The matter was restored to the Assessing Officer for fresh consideration in accordance with law, with connected computations to be revisited if necessary. en-us Fri, 18 Dec 2015 00:00:00 +0530 Sun, 07 Sep 2025 21:14:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463575 Receipts from saplings and seedlings grown in a nursery were examined against the statutory exclusion for agricultural income under Section 10(1), read with the deeming provision in Explanation 3 to Section 2(1A) for nursery income from assessment year 2009-10. Because the lower authorities had not tested the claim on that legal footing, the related issues of depreciation, R&D expenditure, and book profit computation were treated as dependent on the primary agricultural income question. The matter was restored to the Assessing Officer for fresh consideration in accordance with law, with connected computations to be revisited if necessary. Case-Laws Income Tax Fri, 18 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463575