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agricultural income

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(Querist)
22 January 2011 my friend sale eucalyptus trees in his land to paper mill for Rs.25,00,000/- can i treat such income as agricultural income and take exemption u/s 10(1)?
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
22 January 2011 Yes , sale proceeds is agriculture income.
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Guest

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Guest (Expert)
22 January 2011 Provided these trees are output of agricutural operations
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