https://www.taxtmi.com/caselaws?id=471129 Consideration from the sale of agricultural land disclosed as exempt income cannot be added merely because it was not credited to the business profit and loss account. Audited accounts and Form 3CD confined to the textile business did not require inclusion of milk-sale income offered under presumptive taxation or exempt agricultural income. Processing the return by treating the land-sale consideration as uncredited business income was therefore unsustainable, and the addition was required to be deleted. en-us Wed, 02 Apr 2025 00:00:00 +0530 Fri, 21 Aug 2026 20:33:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471129 Consideration from the sale of agricultural land disclosed as exempt income cannot be added merely because it was not credited to the business profit and loss account. Audited accounts and Form 3CD confined to the textile business did not require inclusion of milk-sale income offered under presumptive taxation or exempt agricultural income. Processing the return by treating the land-sale consideration as uncredited business income was therefore unsustainable, and the addition was required to be deleted. Case-Laws Income Tax Wed, 02 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471129