CA Dnyaneshwar Gopale (CHARTERED ACCOUNTANT) (501 Points)
30 January 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177713 Points)
Replied 31 January 2017
"...........business is growing flower............"
Please clarify its growing or is business, as both acts are not symmetrical !!
CA Dnyaneshwar Gopale
(CHARTERED ACCOUNTANT)
(501 Points)
Replied 31 January 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177713 Points)
Replied 31 January 2017
I understand your conflict of accepting greenhouse farming business as agricultural income, and thats the reason I had to counter question it.
As per your above statement, when farming (including Floriculture, horticulture. etc.) is done in farm (LAND), its definately agricultural income as per section 2(1A) of IT act.
But even when its done in pots, beds etc,,popularly known as NURSERY, its assessed as agricultural income.
H.H. Maharaja Vibhuti Narain Singh Vs. State of Uttar Pradesh (Allahabad High Court) [1967] 65 ITR 364 (ALL.)
CAclubindia
