Exemption u/s 10(27) - dairy farming

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ary 11, 1973 Section(s) Referred: 10(27) Statute: Income - Tax Act, 1961 Reference is invited to the Board's circular letter F.No. 4/3/68-IT(AI) dated the 6th March, 1968, on the above. 2.....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e also provided. The Tribunal held that the activity constituted dairy farming within the meaning of S.10(27). 3. Whereas the mere buying and selling of milk will not constitute dairy farming , the....