https://www.taxtmi.com/caselaws?id=790113 Income from hybrid seed production on leased agricultural land was treated as agricultural income because the assessee had exclusive use of the land, bore cultivation risk, and conducted the full range of farming operations under supervision; the use of scientific methods did not alter the agricultural character, so exemption under section 10(1) applied. Trade and professional creditor balances were not taxable as unexplained cash credits where the liabilities were supported by ledger confirmations and subsequent banking payments, so section 68 did not apply. Differences in creditor balances were also explained by discounts, freight adjustments, loss of goods and later invoices, with no proof of remission or cessation of liability; the proposed addition as unexplained expenditure was therefore deleted. en-us Mon, 13 Apr 2026 00:00:00 +0530 Mon, 20 Apr 2026 08:30:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790113 Income from hybrid seed production on leased agricultural land was treated as agricultural income because the assessee had exclusive use of the land, bore cultivation risk, and conducted the full range of farming operations under supervision; the use of scientific methods did not alter the agricultural character, so exemption under section 10(1) applied. Trade and professional creditor balances were not taxable as unexplained cash credits where the liabilities were supported by ledger confirmations and subsequent banking payments, so section 68 did not apply. Differences in creditor balances were also explained by discounts, freight adjustments, loss of goods and later invoices, with no proof of remission or cessation of liability; the proposed addition as unexplained expenditure was therefore deleted. Case-Laws Income Tax Mon, 13 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790113