Cultivation of High Quality Foundation Seeds of Peas, Wheat, Paddy and Potato Constitute “Agricultural Activity”: ITAT [Read Order]

Cultivation - High Quality Foundation Seeds - Agricultural Activity - ITAT - Taxscan

The New Delhi Bench of Income Tax Appellate Tribunal recently held that cultivation of high quality foundation seeds of peas, wheat, paddy and potato constitutes “agricultural activity”. Malook Singh, the assessee’s net agricultural income was Rs.28,54,310/- instead of Rs.14,19,800/- as declared by the assessee and based on the discussion treated the agricultural income as income…

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