JAGGERY PROFITS TAXABLE: ITAT

Profits earned from the sale of jaggery will be taxed as converting sugarcane into a sale able commodity like jaggery or gur is not an agricultural operation, an income tax appellate tribunal (ITAT) has ruled. The ITAT said in its order that the conversion of sugarcane into jaggery is not a necessary process performed by the cultivator to render sugarcane fit for being taken to the market.