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PHI SEEDS PVT. LTD. (Now known as Corteva Agriscience Seeds Private Limited) Vs DCIT, CIRCLE 19(2), New Delhi

Case No: ITA No. 7655/Del/2017
Court: INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH ‘F’, NEW DELHI
Date: 1/28/2026

Parties Involved

appellantPHI SEEDS PVT. LTD. (Now known as Corteva Agriscience Seeds Private Limited)
respondentDCIT, CIRCLE 19(2), New Delhi

Facts Summary

The assessee filed its return of income on 30.11.2012 for the assessment year 2012-13 declaring the income of Rs. 24,25,31,318/-. The case was selected for scrutiny assessment. Order u/s. 143(3) was passed on 23.3.2016, by assessing the income at Rs. 128,32,21,949/- after addition of Rs. 100,87,51,183/- as business income as against exempt agricultural income claimed by the assessee u/s. 10(1) of the Act and income from other sources. Against the above, assessee preferred the appeal before the L

Decision in favour of

Assessee

Legal Issues

  • 1. Whether the Ld. CIT(A) erred in law in upholding the order passed by the AO rejecting the assessee’s claim of deduction u/s. 10(1) of the Act.
  • 2. Whether the CIT(A) passed the order without application of mind and without considering the evidence on record.

3 more legal issues analysed in this judgement.

Precedents Relied Upon

2 precedents cited in this judgement.

Judgment Outcome

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