Exemption of Agricultural Income u/s 10(1) of the Income Tax Act

Last updated: 23 July 2021

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This case involves Vibha Agrotech Ltd.'s appeals concerning claims for exemption of agricultural income under Section 10(1) and weighted deductions under Section 35(2AB) of the Income Tax Act. The Hyderabad Income Tax Appellate Tribunal reviewed these claims across multiple assessment years. Notably, this was a second round of proceedings for some years, with a previous tribunal order remitting the issue back to the Assessing Officer for a fresh examination.

Court :
ITAT Hyderabad

Brief :
The instant batch of 5 appeals pertains to a single assessee M/s Vibha Agrotech Limited. The first and foremost AY 2009-10 involves assessee’s and Revenue’s cross appeals ITA 317 & 591/Hyd/2017 arising against the CIT(A)-5 Hyderabad’s order dated 30th January, 2017 in case no. 291/2015-16. The taxpayer’s appeal ITA 1900/Hyd/19 for AY 2010-11 is directed against the CIT(A)-1 Hyderabad’s order dated 11.10.2019 passed in case no.325/2016-17. Last AY 2012-13 contains assessee’s and Revenue’s cross appeals ITA 318 & 592/Hyd/2017 against the CIT(A)-5 Hyderabad’s order dated 30th January, 2017 passed in case nos.54/2015-16 Relevant proceedings are u/s 143(3) r.w.s. 254, sec.144 r.w.s. 254 and sec143(3) of the Income Tax Act, 1961 [for short ‘the Act’]; assessment year wise respectively. Heard both the parties. Case files perused.

Citation :
I.T.A. No. 1900/Hyd./2019

Daily Limit Reached