Agriculture income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 December 2016 Dear Sir,
Whether the act of fishery is comes within the definition of agriculture income?
Please advise me.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

24 December 2016 No fishery will not come under agricultural income.

Querist : Anonymous

Querist : Anonymous (Querist)

24 December 2016 THIS ACT IS TRADING OR MANUFACTURING?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

24 December 2016 Not manufacturing it is farming and trading ac.

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
Follow

24 December 2016 The answer to the query is NO.
Link : https://indiankanoon.org/doc/1661034/
2. During the previous year relevant to the year under consideration, the assesses 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 assesses is in appeal Before the Tribunal. "The word 'agriculture' even in Its widest import, has received some sort; of definite and restricted meaning, and I find It difficult to bring fishery under the heading 'agriculture' even in its widest sense as ordinarily understood." 7. In the result assesses's appeal is dismissed.