Income Tax

SUMITRA DAS (Querist) 27 December 2009 This query is : Resolved
Whether the explanation stating that Income from Nursery is Agricultural Income has any retrospective effect or it will operative prospectively.

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A V Vishal (Expert) 27 December 2009
Clarify the context to your query, it is too vague to answer.

soumitra basu (Expert) 28 December 2009
According to law of interpretation explanation should have retrospective effect since it did not change the original section. Explanation meaning understanding of the section from the date of the inserting of the particular section.

Vineet (Expert) 28 December 2009
Income from Nursery was always treated as earned from agricultural activities. It is for clarification of any doubt and to avoid unnecessary litigation, explanation to this regard has been introduced.

So the explanation takes retrospective effect.