Court : Chennai
Reported in : (1970)1MLJ291
..... ) mad. 923 : 105 i.c. 489 : a.i.r. 1927 mad. 1038, a decision of a full bench of this court, held that income derived from toddy was agricultural income within the meaning of section 2 (1) of the income-tax act, but only when it was received by the actual cultivator, whether as owner or lessee of the land on which the trees grow. on ..... by the assessee in respect of the assessment years, 1958-59 and 1959-60. if it is agricultural income, it would be exempt from the charge under section 4 (3) (viii) of the income-tax act, 1922. the revenue as well as the tribunal have all concurred in the view that the assessee will not be entitled to the exemption. at the instance of the .....
Tag this Judgment!Court : Chennai
Reported in : (1970)IILLJ88Mad
..... which is allowed as a deduction under any law for the time being in force relation to direct taxes) and capital losses (other than losses on sale of capital assets on which depreciation has been allowed for income-tax or agricultural income-tax).4. obviously it is with reference to this particular heading the two amounts of rs 9,000 as ..... be forgotten that the labour court, while determining the quantum of the bonus payable to the workers is applying the statutory provisions contained in the payment of bonus act and, therefore, before adding any particular item to the net profits as shown in the profit and loss account, the labour court must first give a finding ..... and profit and loss account for the year ending 31st march, 1965, prepared for the purpose of income-tax, by a chartered accountant. the provisions contained in section 23 read with section 25 of the payment of bonus act make it clear that the labour court may presume the statements and particulars contained in such profit and .....
Tag this Judgment!Court : Chennai
Reported in : [1972]29STC123(Mad)
..... process of manufacturing of tea at the factory by a dealer in tea. it is in this view that the special rules prescribed in the income-tax rules, 1962, as well as the rules framed under the madras agricultural income-tax act use the consolidated expression growing and manufacture. there is no growing without being furthered by manufacture and there cannot be manufacture without growing. this ..... by the seller in india shall be computed as if it were income derived for business, and forty per cent, of such income shall be deemed to be income liable to tax.7. a similar rule is adopted even under the madras agricultural income-tax act, 1955, and the rules framed thereunder. rule 7 of the madras agricultural income-tax rules, 1955,. is practically a replica of the content of rule .....
Tag this Judgment!Court : Chennai
Reported in : [1998]234ITR120(Mad)
..... of the matter that in section 10(1) of the income-tax act, 'agricultural income ..... . likewise, the state of tamil nadu enacted the act (tamil nadu agricultural income-tax act, 1955), under entry 46 of list ii of the seventh schedule. 18. from this, it is crystal clear that the purpose for which the income-tax act was enacted was to tax income, other than 'agricultural income' and the purpose of the enactment of the tamil nadu was to tax 'agricultural income' and nothing further. it is in this view .....
Tag this Judgment!Court : Chennai
Reported in : (1995)127CTR(Mad)3; [1995]213ITR502(Mad)
..... complying with the provisions required for referring the valuation of the appellant's agricultural lands to the valuation cell.' 4. the appellate order in relation to the assessment years 1974-75 is dated june 22, 1982, and follows the order of the commissioner of income-tax dated june 23, 1980, in relation to the assessment years 1970-71 ..... (cal) , a similar situation arose in relation to an assessment made under the income-tax act of which only one part was challenged in appeal. the appeal having been allowed, the question arose as to whether the whole matter was wide open before the income-tax officer or his jurisdiction was limited to the specific question considered in appeal. the court ..... matter. as regards the years where original assessment has not yet been done, the jurisdiction of the assessing officer is referable to section 16 of the wealth-tax act and hence this decision of the court would not be relevant in such a case. in spite of it, this court would like to clarify that the .....
Tag this Judgment!Court : Chennai
Reported in : [1987]168ITR125(Mad)
..... passed declaring the widow and the adopted son as being entitled to the estate equally has no status of his own for purposes of the madras agricultural income-tax act, except that he represents as an agent or trustee of the estate of another and when a receiver is assessed the status in which the assessment ..... the four nephews in equal shares. the question arose whether the heirs could be assessed as an association of individuals under the hyderabad agricultural income-tax act, 1950, in respect of the income from the estate. the supreme court held that to constitute an association of individuals two or more individuals should have joined in the ..... the widow and the adopted son were assessed as individuals in respect of the agricultural income that fell to their shares. however on account of certain audit abjections to this method of assessment the agricultural income-tax officer invoked section 35 of the said act and assessed the receiver as single unit. that was challenged by filing a .....
Tag this Judgment!Court : Chennai
Reported in : [2000]241ITR428(Mad)
..... plantation as shade trees are cut down and sold after they had become useless by efflux of time, the amount realised from their sale would not constitute agricultural income. that decision was rendered under the kerala agricultural income-tax act. the court in the course of the judgment observed as under (page 276) : 'there is no controversy about the fact that the owners of tea estates ..... as to whether the amounts realised from the sale of shade trees on a coffee plantation constitute taxable agricultural income. it is required to be noticed at this stage that the tamil nadu agricultural income-tax act does not contain any provision similar to section 45 of the indian income-tax act and the capital gain received by a person from the sale of a fixed asset which is .....
Tag this Judgment!Court : Chennai
Reported in : [1977]107ITR236(Mad)
..... no evidence of deriving of agricultural income and that, therefore, it could not be excluded from the category of capital as referred to in section 2 ..... that inrespect of that assessment year the lands will have to be treated as agricultural lands. therefore, the tribunal held that it would not be a capital asset as it is exempted from that category by virtue of section 2(4a) of the indian income-tax act, 1922. so far as the assessment year 1961-62 was concerned there was ..... during the relevant assessment years and that, therefore, they were not agricultural lands. in that view he said that these lands could not be excluded from the category of capital asset as referred to in section 2(4a) and section 12b(1) of the indian income-tax act, 1922. the appellate assistant commissioner, however, accepted the contention of .....
Tag this Judgment!Court : Chennai
Reported in : [1995]214ITR202(Mad)
..... aggregate as if it were comprised in the total income. it is submitted that agricultural income is not income at all contemplated for the purpose of levy of tax under the income-tax act, 1961 (vide section 10(1) of the income-tax act, 1961), and consequently cannot be treated as income or even deemed to be income as forming part of the total income even for rate purposes. it is respectfully submitted that ..... (2) in so far as it enables the respondents to include in my total income agricultural income resulting in a higher tax is clearly ultra vires and beyond the powers of parliament. the provisions of the finance act, 1977, are also opposed to the provisions of the income-tax act, 1961. the agricultural income has already been taxed by the state legislature and, therefore, treating it as if it were my .....
Tag this Judgment!Court : Chennai
Reported in : [1999]239ITR202(Mad)
..... of the plantations; (iv) that, therefore, the interest paid by the respondent was allowable as a deduction under section 5(e) of the madras plantations agricultural income-tax act, 1955. in principle, there is no distinction between interest paid on capital borrowed for the acquisition of a plantation and interest paid on capital borrowed for ..... the plantations should be deducted as expenditure laid out or expended wholly and exclusively for the purpose of the plantations under section 5(e) of the madras plantations agricultural income-tax act, 1955, came up for consideration before the supreme court and the apex court, in answering such a question held (headnote) : '(i) that the interest ..... lordships of this court said on that aspect of the matter is as below (headnote) : 'sections 5(e) and 5(k) of the tamil nadu agricultural income-tax act, 1955, operate in different areas. section 5(e) applies to any expenditure laid out or expended wholly and exclusively for the purpose of the land, not .....
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