Whether assessee can be denied exemption merely because he himself did not cultivate agricultural land - NO: Income TAx u/s 10(37) & 45(5)
AHMEDABAD, MAY 02, 2013: THE issues before the Bench are - Whether assessee can be denied exemption merely because he himself did not cultivate the agricultural land; Whether the concept of personal cultivation also recognizes, cultivation of a land through hired labourer or through member of one’s family and Whether the exemption u/s 10(37) can be denied merely on the basis that the assessee was not residing close to the land or was also pursuing some other business and thus the land was not used for agricultural purposes by the assessee. And the verdict goes in favour of the assessee.
tax 'N' accounts people
Tarun Kumar Gupta
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