Court : Guwahati
..... of 1949. these are references by which certain questions of law have been referred to this court under section 28(2) of the assam agricultural income-tax act, 1939, hereafter called the assam act, by the member, assam board of agricultural income-tax shillong.the references in all these nine cases were made as a result of petitioner filed by different assessees when they felt aggrieved by the ..... some diminution of the capital, however small. the receipts in these circumstances ought to be treated as capital receipts.the assam agricultural income-tax act defines agricultural income as follow :- "(a) agricultural income means - (1) any rent or revenue derived from land which is used for agricultural purposes, and is either assessed to land revenue in assam or subject to a local rate assessed and collected by officers of .....
Tag this Judgment!Court : Karnataka
Reported in : (2007)207CTR(Kar)163; [2008]296ITR676(KAR); [2008]296ITR676(Karn)
..... agricultural income-tax), the kerala high court again notices the income from slaughter tapping of rubber trees. after noticing, the court ruled that the assessee carried on agricultural operations and hence the income was agricultural income. that was also a case that arose in terms of the agricultural income tax act.10. the petitioner relies on : [1993]202itr450(ker) . all the ..... carefully seen each one of the judgments.8. in 1990 itr 497, the court was considering an agreement to remove old rubber trees and the income received by slaughter-tapping of such rubber trees. the court, after noticing the provisions of the agricultural income tax act has chosen to hold in favour of the petitioner.9. in : [1975]98itr283(ker) (cherian dominic v. commissioner of .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : (1987)63CTR(AP)187; [1987]165ITR603(AP)
..... facts and in the circumstances of the case, the assessee is entitled to deduction under section 37 of the income-tax act, 1961, in respect of the sum of rs. 1,04,155 being interest paid to the bank on medium and short-term agricultural loans (2) whether, on the facts and in the circumstances of the case, the assessee is entitled to deduction ..... the income-tax act. according to the assessee, it acquired the said lands with the intention of carrying on research and development in tobacco cultivation, and that inasmuch as part of the land was not found suitable for tobacco cultivation, other crops were raised. the income-tax officer negatived the claim holding that the loans were taken for developing agricultural lands and inasmuch as the income from .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1957All760
..... ? 2. whether in the circumstances of the case, the price of timber trees received by the assessees was exempt from the income-tax either as, (a) agricultural income under section 4(3)(viii), i. t. act, or as, (b) casual income under section 4(3) (vii), income-tax act. 2. this reference relates to assessment years 1945-46 and. 1946-47. the assessee was assessed for the year 1945 ..... . 6. the second question has been divided into two parts: in the first part of the question, the point, raised is whether the income received by the assessee from forests was agricultural income under section 4(3)(viii) of the income tax act. on this point, the finding of fact recorded by the tribunal on scrutiny of the evidence was that the evidence for short of .....
Tag this Judgment!Court : Allahabad
Reported in : [1957]32ITR320(All)
..... ?(2) whether in the circumstances of the case the price of timber trees received by the assessee was exempt from income-tax, either as(a) agricultural income under section 4(3)(viii) of the income-tax act, or as(b) casual income under section 4(3)(vii) of the income-tax ac ?this reference relates to assessment years 1945-46 and 1946-47. the assessee was assessed for the year ..... assessee.the second question had been divided into two part : in the first part of the question, the point raised is whether the income received by the assessee from forests was agricultural income under section 4(3)(viii) of the income-tax act. on this point, the finding of fact recorded by the tribunal on scrutiny of the evidence was that the evidence fell short of .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 1996IIIAD(SC)421; AIR1996SC1522; (1996)132CTR(SC)256; [1996]220ITR43(SC); JT1996(3)SC665; 1996(3)SCALE197; (1996)4SCC216; [1996]3SCR1008
..... contented that the land sold under the aforesaid three sale-deeds, being an agricultural land, does not constitute 'capital asset' and, therefore, the profit arising from its sale is not exigible to tax under section 45 of the income-tax act, 1961. the income tax officer rejected the contention holding that having regard to the location and the ..... physical characteristics of the land, the development and use of the adjoining lands and the price at which and the purpose for which it was sold, go to show that it was not an agricultural ..... land. on appeal, the appellate assistant commissioner affirmed the view taken by the income tax officer. on further appeal to the tribunal, there was a difference of opinion between the accountant member and the .....
Tag this Judgment!Court : Delhi
Reported in : (2001)167CTR(Del)380; 2001(58)DRJ641
..... amendment) bill, no.169 of 1998 was introduced in the parliament. by this bill section 80p(2)(a)(iii) of the income tax act was sought to be substituted with effect from 1st april 1968 by the following:- '(iii) the marketing of agricultural produce grown by its members, or ....' the statement of objects and reasons is as under:- '6. clause 8 seeks to amend ..... section 80p of the income-tax act. under the existing provision, profits derived by a cooperative society engaged in the marketing of agricultural produce of its members are fully deductible in computing the taxable income under section 80p(2)(a) (iii) of the income-tax act. the deduction was intended for primary cooperative societies marketing the agricultural produce of their farmer members. in the case .....
Tag this Judgment!Court : Kerala
Reported in : [1974]94ITR122(Ker)
..... that the assessee, after the purchase from the maharajah, converted the land into non-agricultural land.4. though the term ' agricultural income ' is defined in the income-tax act (article 366(1) of the constitution lays down that for purposes of the constitution the definition in the indian income-tax act will prevail), the terms ' agriculture ' and ' agricultural purpose' have not been defined. therefore, the court has necessarily to fall back ..... of human agency, even if the land is assessed to land revenue, is not agricultural income within the meaning of section 2(1)(a) of the income-tax act.6. the counsel on both sides have brought to our notice two of three decisions under the wealth-tax act. in the wealth-tax act, the expression ' agricultural land ' appears; and it is in considering this expression that these decisions have .....
Tag this Judgment!Court : Kerala
Reported in : [1994]207ITR319(Ker)
..... 81(i)(c) of the income-tax act, as it stood then, which is to the following effect :'81. income of co-operative societies.--income-tax shall not be payable by a co-operative society-- (i) in respect of the profits and gains of business carried on by it, if it is-- .... (c) a society engaged in the marketing of the agricultural produce of its members ; or ..... 342, construing section 81(i)(c) of the income-tax act, which is similar to section 80p(2)(a)(iii) of the act, the court observed thus :'. . . . a reading of clause (i) of section 81 shows that the idea and intention behind the said clause was to encourage basic level societies engaged in cottage industries, marketing agricultural produce of its members and those engaged in .....
Tag this Judgment!Court : Kerala
Reported in : (1990)81CTR(Ker)239; [1990]181ITR271(Ker)
..... itr 325 , it was held that interest on arrears of rent payable in respect of land used for agricultural purposes is not agricultural incomewithin the definition of that phrase contained in section 2(1) of the indian income-tax act, 1922, and is not, therefore, exempt from income-tax. it is neither rent nor revenue derived from land.8. the receipts by the assessee by way of ..... be considered that the sale of tender forms is incidental and so intimately connected with agricultural operations so as to make it part of agricultural operations. we are, therefore, of the opinion that the amount received by the sale of tender forms is not agricultural income but income under the income-tax act taxable thereunder.9. in the light of the above, our answer to all the questions .....
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