Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2003)87ITD457(Kol.)
..... at the time of assessment under the provisions of agricultural income-tax act of the relevant state. it would thus be relevant to refer to the bengal agricultural income-tax act, 1944 which reads as under:- 8. computation of tax on mixed incomes - (1) in the case of income which is partially agricultural income assessable under this act and partially income chargeable under the [head of income "business" or "profits and gains of business or profession ..... ", as the case may be, under the enactments relating to indian income tax], agricultural income-tax shall be payable by an assessee .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2005)93ITD615(Kol.)
..... (other than a h.u.f., a company or a firm) which in the relevant previous year has either no income chargeable to tax under the income tax act or has total income not exceeding the maximum amount not chargeable to tax, but has any agricultural income, then, the agricultural income or loss of the association of persons or body of individuals shall be computed in accordance with the rules contained ..... we find it appropriate to refer provisions related to the rules for computation of net agricultural income as laid down in annual finance acts. there is no doubt that net agricultural income is entirely exempt from tax under the income tax act; but under the provisions of the finance act, 1973 and the subsequent finance acts the agricultural income has to be taken into account for the purpose of determining the rate of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1994)49ITD396(Kol.)
..... of the ito under the income-tax act, 1961, in apportioning 40% of rs. 39,24,434 as income liable to income-tax and deducting 8% under section 80-1 only from the balance.no doubt, the madras ..... in taking 60% of rs. 39,24,434 as agricultural income liable to tax under the madras agricultural income-tax act without deducting therefrom 8% under section 80-1. the madras high court directed the agricultural ito to deduct 8% from rs. 39,24,434 and take 60% of the balance as the true agricultural income taxable under the agricultural income-tax act. the high court was not sitting in judgment over the action .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1995)53ITD558(Kol.)
..... .t. rules, which at first sight would appear to be only a rule of apportionment or computation, must really be treated as incorporated in the definition of the term "agricultural income" in the income-tax act. we do no see how the assessee's submission can be accepted in the face of the categorical ruling of the highest court of the country which is the ..... 667 that the definition of 'agricultural income' in the constitution of india and the income-tax act, 1922 was bound up with rule 24 of the income-tax rules which provided that 40 per cent of the composite income shall be treated as business income and 60 per cent shall be treated as agricultural income. the same has been held to be the position under the income-tax act, 1961 read with rule 8 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1992)41ITD260(Kol.)
..... to the assessee's appeal in ita no. 1658 (cal.)/89 which is directed against the order of the cit, wb-iv, calcutta dated 3-3-1989 passed under section 263 of the income-tax act, 1961. by this order, the cit considered the assessment order passed by the ito on 27-3-1987 as erroneous insofar as it was prejudicial to ..... next submitted that similar levies of market fee under other state enactments such as rajasthan agricultural produce markets act, 1961 have been held to be not forming part of the sale price for computing the taxable turnover of the assessee under the sales tax act. for this he relied on the decision of the rajasthan high court in the case of ..... relied on by both slides as set out above.24. in our view, the market fee collected by the assessee in the present case under the bihar agricultural produce markets act, 1960 does not represent a trading receipt. this position is now well settled by the decisions of the rajasthan high court and the allahabad high court referred .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1986)18ITD236(Kol.)
..... of the hon'ble supreme court in the case of cait v. lucy kochuvareed [1976] 103 itr 799 which related to the revisional order of the commissioner under the kerala agricultural income-tax act, 1950, related to excessive allowance allowed by the assessing officer in respect of expenses incurred by the assessee. the commissioner set aside that assessment order for fresh disposal by the ..... was justified in invoking his jurisdiction under section 263.1. the appeal by the assessee is directed against the order of the commissioner as passed under section 263 of the income-tax act, 1961 ('the act'). the appeal by the assessee is that the commissioner erred in holding that the assessment order made by the ito under section 143(3) of the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2002)77TTJ(Kol.)45
..... , 1962 (hereinafter referred to as the 'central rules'), the 40 per cent being subject to central income-tax under the income tax act (hereinafter referred to as the "central act") and the balance 60 per cent to assam agricultural income-tax under the assam agricultural income tax act, 1939 (hereinafter referred to as the "agricultural act").the appellants had claimed the said cess paid during the relevant previous year as a deductible expenditure under the ..... central act. the assessing officer had allowed the deduction in determining the composite income from growing, manufacturing and sale .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1983)4ITD212(Kol.)
..... in item note no. 7 given at the foot of the return form gives the instances of incomes, profits and gains not includible in the total income, referred to in rule 4 as follows: instances of income profits and gains not includible in the total income as computed under the income-tax act, 1961 are agricultural income in india, and in the case of a non-resident company, its ..... income accruing or arising outside india.on the basis of the aforesaid form and note no. 7, the learned .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1992)42ITD316(Kol.)
..... the income-tax act, 1961. the dispute before us is limited to claim on trailers employed for carrying plucked leaves from garden to factory. the assessee's claim has been rejected on the ground that trailers employed for carriage of leaves did not form part of machinery used for production or manufacture of tea. carriage of green leaves is only a part of agricultural ..... process.6. in our opinion the objection raised by the revenue is not well-founded. "income from sale of tea grown and manufactured is to be computed under sub-rule (1) of rule 8 of the income-tax rules as if it was income derived from business and 40 per cent of such .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1993)45ITD22(Kol.)
..... the income-tax act is that certain receipts are not to be taken as income at all, while, in respect of certain receipts, there is an exemption from tax on fulfilling certain conditions and in respect of certain other incomes, certain concessions or deductions are given. to illustrate this, under chapter iii, under section 10, agricultural income is not ..... case of express newspapers ltd. [19641 53 itr 250 (at page 260) : " now turning to section 12b (indian income-tax act, 1922 (43 of income-tax act, 1961)), it provides for capital gains. under that section, the tax shall be payable by the assessee under the head ' capital gains ' in respect of any profits or gains arising from ..... provisions have been made after april 1, 1988, and have gone to increase the book profits in any year when the provisions of section 115j of the income-tax act were applicable. this amendment will take effect from april 1, 1988, and will, accordingly, apply in relation to the assessment year 1988-89 and subsequent .....
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