CIT v. Namdhari Seeds (P) Ltd.

THE COMMISSIONER OF INCOME TAX vs. M/S.INDO AMERICAN EXPORTS

Appeal is disposed of accordingly

Bench: The Court This Day, K Sreedhar Rao, J., Made The Following:- J U D G M E N T The Following Substantial Question Of Law Is Framed For Consideration: “Whether The Appellate Authorities Was Correct In Holding That The Only 10% Of The Total Agricultural Income Should Be Assessed As Business Income & The Remaining Income Is To Be Treated As Agricultural Income & Deduction U/S Chapter Via Of The Act, Is To Be Allowed?” 2. In View Of The Decision Of This Court In The Case Of Commissioner Of Income Tax Vs Namdhari Seeds (P) Ltd., Reported In (2011) 203 Taxman 565 (Kar) Dated 24.10.2011, The Substantial Question Of Law Framed Is Answered In Favour Of The Revenue.

…1 IN THE HIGH COURT OF KARNATAKA AT BANGALORE DATED THIS THE 3RD DAY OF SEPTEMBER 2012 PRESENT THE HON’BLE MR. JUSTICE K SREEDHAR RAO AND THE HON’BLE MR.JUSTICE B MANOHAR ITA NO.577 OF 2008 BETWEEN: 1. THE COMMISSIONER OF INCOME TAX C R BUILDING, QUEENS ROAD BANGALORE 2. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE – 4(1) C R BUILDING, QUEENS ROAD BANGALORE. ...APPELLANTS (BY SRI:K V ARAVIND, ADV) AND: M/S INDO AMERICAN EXPORTS NO.38/1, 30TH CROSS III MAIN, 7TH BLOCK JAYANAGAR BANGALORE – 560 082 ...RESPONDENT (BY SRI:S PARTHASARATHI, ADV) THIS ITA FILED UNDER SECTION 260-A OF IT ACT, 1961 ARISING OUT OF THE…