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.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
Follow

25 December 2016 Fisheries not comes purview of definition of agricultural income.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

RAJ SANKLECHA

Pushkar Nagda

sachingurav

R.Prashanth

SUBASH CHANDRA BOSE

Subscribe Now

Agriculture income

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA