https://www.taxtmi.com/highlights?id=101247 Audited financial statements separately disclosed agricultural income and non-agricultural income, with the non-agricultural component offered to tax and the agricultural income claimed exempt. The Tribunal held that the first appellate authority proceeded on an incorrect factual premise in stating that no bifurcation existed. Because the audited statements were before the assessing and appellate authorities and the income and expenditure figures were not disputed, the claim of exempt agricultural income was accepted. The addition made by treating the agricultural income as business income was deleted. en-us Wed, 01 Jul 2026 08:47:51 +0530 Wed, 01 Jul 2026 08:47:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=101247 Audited financial statements separately disclosed agricultural income and non-agricultural income, with the non-agricultural component offered to tax and the agricultural income claimed exempt. The Tribunal held that the first appellate authority proceeded on an incorrect factual premise in stating that no bifurcation existed. Because the audited statements were before the assessing and appellate authorities and the income and expenditure figures were not disputed, the claim of exempt agricultural income was accepted. The addition made by treating the agricultural income as business income was deleted. Highlights Income Tax Wed, 01 Jul 2026 08:47:51 +0530 https://www.taxtmi.com/highlights?id=101247