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Agriculture business of a Partnership Firm

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(Querist)
12 February 2011 R/sir,
I want to know that Can a partnership firm can do agriculture Business?
And the Income in that case will be exempt as agriculture income or will be taxable?
Please explain me with case law or sections.

Thanx and Regards,
Ritu Rawal
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CA Punit

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CA Punit (Expert)
12 February 2011 of course.. theres no restriction on doing agriculture business in partnership..
& d agricultural income will be exempt from tax u/s 10(1)
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