Dairy activity is not ‘Industry or Agriculture’ u/s 36(1)(viii) of Income Tax Act: Gujarat HC denies Claim of National Dairy Development Board [Read Order]

Industry - Agriculture - Income - Tax - Act - Gujarat - HC - National - Dairy - Development - Board - TAXSCAN

The Gujarat High Court in a recent ruling in favour of the Income Tax Department, held that dairying is not an industry or agricultural development or development of industrial facility for the purpose of direct taxation under Section 36(1)(ii) of the Income Tax Act, 1961. Hearing an appeal by the National Dairy Development Board, the…

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