https://www.taxtmi.com/caselaws?id=49516 The Supreme Court analyzed the definition of "agricultural income" under the Income-tax Act in a case involving a trustee receiving remuneration from trust properties. The court held that agricultural income must be specifically derived from land used for agricultural purposes to qualify for exemption from taxation. Despite the appellant's argument that the remuneration should be exempt under a relevant section, the court found that the income did not meet the criteria for agricultural income exemption. The appeal was dismissed, emphasizing the importance of the source and character of income in determining tax liability. en-us Tue, 25 Oct 1960 00:00:00 +0530 Mon, 01 Sep 2014 21:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49516 The Supreme Court analyzed the definition of "agricultural income" under the Income-tax Act in a case involving a trustee receiving remuneration from trust properties. The court held that agricultural income must be specifically derived from land used for agricultural purposes to qualify for exemption from taxation. Despite the appellant's argument that the remuneration should be exempt under a relevant section, the court found that the income did not meet the criteria for agricultural income exemption. The appeal was dismissed, emphasizing the importance of the source and character of income in determining tax liability. Case-Laws Income Tax Tue, 25 Oct 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49516