https://www.taxtmi.com/caselaws?id=58718 The Appellate Tribunal dismissed the Department's appeal, affirming that the lease rent received by the assessee from M/s. Hoechst Pharmaceuticals Ltd. constituted agricultural income for the assessment year 1975-1976. The Tribunal emphasized that the income met the criteria specified in the Income Tax Act, 1961, as the land was used for agricultural purposes in the relevant year, despite its prior non-agricultural use. The lease rent was considered agricultural income due to the land being in India, derived from land, and used for agricultural activities, as supported by expert opinions and documentation from the lessee. en-us Mon, 19 May 1980 00:00:00 +0530 Tue, 21 Dec 2010 16:48:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58718 The Appellate Tribunal dismissed the Department's appeal, affirming that the lease rent received by the assessee from M/s. Hoechst Pharmaceuticals Ltd. constituted agricultural income for the assessment year 1975-1976. The Tribunal emphasized that the income met the criteria specified in the Income Tax Act, 1961, as the land was used for agricultural purposes in the relevant year, despite its prior non-agricultural use. The lease rent was considered agricultural income due to the land being in India, derived from land, and used for agricultural activities, as supported by expert opinions and documentation from the lessee. Case-Laws Income Tax Mon, 19 May 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58718