Assessee is a director of a seed company and graduate in agricultural science, claimed exemption on agricultural income under section 10(1). Assessing Officer added agricultural income to taxable income, citing lack of books of account as required under section 44AA\u00a0 of the Act. CIT(A) affirmed the order of the AO. On appeal the Tribunal held that\u00a0\u00a0 requirement to maintain books of account under section 44AA\u00a0 does not include agriculturist. Since\u00a0 the assessee submitted copies of sales bills for agricultural produce, even though to related parties and consistently declared agricultural income over years\u00a0 addition is deleted. (AY. 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 10(1) : Agricultural income-Books of account-Agriculturist-No requirement to maintain books of account under section 44AA for agriculturists to claim exemption under section 10(1). [S.44AA]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-51096","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-di8","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=51096"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51096\/revisions"}],"predecessor-version":[{"id":51097,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51096\/revisions\/51097"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=51096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=51096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=51096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}