Income Tax Appellate Tribunal Itat Cochin Court September 1985 Judgments Home Cases Income Tax Appellate Tribunal Itat Cochin 1985 Page 1 of about 1 results (0.029 seconds)

V. Madhava Menon Vs. Gift-tax Officer

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1987)23ITD289(Coch.)

1. The first of the appeals is filed by the assessee and the second appeal is filed by the revenue and they relate to the assessment years 1974-75 and 1978-79, respectively. As the decision in the first of the appeals before us is very much essential for the disposal of the second of the appeals before us in order to do complete justice in the matter it is essential to club these two appeals and they be disposed of by a common order.2. The facts leading to the first of the appeals before us relating to the assessment year 1974-75 briefly stated are as follows. The assessee was the owner of 170.05 acres of coffee plantation and cardamom plantation with a bungalow situated in the said estate. The break up of the total extent of land is as follows : For the assessment year 1972-73 for which the valuation date was 31-3-1972 the WTO assessed the value of the coffee and cardamom estate at Rs. 4,96,650 and the value of the bungalow situated therein at Rs. 30,000. Thus, the total of the agric...