https://www.taxtmi.com/acts?id=53522 Rule 270 governs determination of income that is partly agricultural and partly business income. The market value of agricultural produce raised by the assessee, or received as rent in kind, is deductible where the produce is used as raw material in the business or its sale receipts are included in the business accounts. No further deduction is allowed for cultivation-related expenditure. Market value is based on average sale price, or, where no ordinary market sale exists, cultivation expenses, land revenue or rent, and reasonable profit. en-us Fri, 20 Mar 2026 18:38:32 +0530 Wed, 08 Apr 2026 14:42:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53522 Rule 270 governs determination of income that is partly agricultural and partly business income. The market value of agricultural produce raised by the assessee, or received as rent in kind, is deductible where the produce is used as raw material in the business or its sale receipts are included in the business accounts. No further deduction is allowed for cultivation-related expenditure. Market value is based on average sale price, or, where no ordinary market sale exists, cultivation expenses, land revenue or rent, and reasonable profit. Act-Rules Income Tax Fri, 20 Mar 2026 18:38:32 +0530 https://www.taxtmi.com/acts?id=53522