2005 (5) TMI 267

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....tur, and it pertains to the assessment year 2002-03. 2. During the previous year relevant to the year under consideration, the assessee earned income from prawn culture, and the same was claimed as agricultural income and, therefore, exempt from tax. The Assessing Officer as well as the learned CIT(A) rejected the contention of the assessee, and thus, the assessee is in appeal before the Tribun....

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....ive relied upon the orders of the tax authorities, and contended that growing prawns has different nomenclature, which is known as prawn culture, which is different from agriculture, and thus, it would not fall within the definition of agricultural income under section 2(1A) of the Act. 5. I have carefully considered the rival submissions and perused the records. The learned counsel mentioned i....

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....'agricultural income' as 'any rent or revenue derived from land, which is situated in India and is used for agricultural purposes'. Identical issue has come up before the Hon'ble Madras High Court in the year 1932, wherein Bench observed that income derived from the fisheries is not exempt from the assessment from income-tax, since it cannot be treated as agricultural income. The Court observed th....

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....eries cannot be treated as agricultural income. The other two judges constituting the Bench have passed separate but concurring judgments. Justice Ananta Krishna Ayyar observed in CIT v. U.T.S. Sevuga Pandia Thevar [1933] 1 ITR 78 (Mad.) at page 89 as under:- "The word 'agriculture' even in its widest import, has received some sort of definite and restricted meaning, and I find it difficult to ....