Court : Mumbai
Reported in : (1986)52CTR(Bom)169; [1986]161ITR696(Bom); [1986]24TAXMAN492(Bom)
..... circumstances, the only conclusion to which we can arrive at is that the said land which was acquired was non-agricultural land and the capital gains earned thereon are liable to tax under section 45 of the income-tax act, 1961.6. mr. mehta, learned counsel for the assessee, placed strong reliance on the decision of a division ..... ) of the income-tax act, 1961. the assessment year with which we are concerned is the assessment year 1969-70. the question referred to us for determination is as follows :'whether, on the facts and in the circumstances of the case, balance 13,200 square yards of land or any part thereof was non-agricultural land and, therefore ..... other than the portion of it which was leased out to govindram brothers was agricultural land. the term has not been defined anywhere in the income-tax or the wealth-tax act and in accordance with well settled principles, the meaning of the term 'agricultural land' will have to be gathered from what is generally understood to be such .....
Tag this Judgment!Court : Karnataka
Reported in : ILR1976KAR1140; [1977]107ITR712(KAR); [1977]107ITR712(Karn)
..... -free in fact and in law during the relevant accounting years, then one of the conditions of the definition of 'agricultural income' is not satisfied; any income derived by agricultural operation on land converted into non-agricultural purposes cannot bring such income within the net of the agricultural income-tax act. in the instant case, the assessee has not produced any material to show that the land was revenue free ..... in fact and in law. that being the position, the income, admittedly derived by employing the land for agricultural purposes, although the land .....
Tag this Judgment!Court : Chennai
Reported in : (2002)177CTR(Mad)129
..... garden could, under those circumstances, (not) be viewed as the agricultural income,6. the term agricultural income is defined in section 2(1) of the income tax act, 1961, which reads as follows :'agricultural income' means(a) any rent or revenue derived from land which is used for agricultural purposes and is either assessed to land revenue in india or is ..... whether, on the facts and in the circumstances of the case, the tribunal is right in holding that the income from shooting hire charges is not agricultural income within the meaning of section 2(1) of the income tax act, 1961 for the assessment years 1980-81 and 1981-82 ?3. the assessee had shown the loss of ..... benoy kumar sahas roy : [1957]32itr466(sc) . in the said decision, the supreme court was considering the definition of the term agricultural income as it was found in the income tax act, 1922. the question came for consideration on the peculiar factual background inasmuch as the assessee there owned about 6,000 acres of forest land .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (1988)26ITD57(Ahd.)
..... a difference of opinion and the following point of difference has been referred to me as a third member under section 24(11) of the wealth-tax act read with section 255(4) of the income-tax act : whether property at plot no. 614-b 'panchvati-gulbai tekra area', ahmedabad qualified for exemption under section 5(1)(iv) as also the ..... the first two common grounds in the appeals of the revenue and restore those of the ito.reference under section 24(11) of the wealth-tax act, 1957 read with section 255(4) of the income-tax act, 1961 1. a difference of opinion has arisen amongst the members, who constituted the bench. the following point of difference is referred to ..... concerned with section 2(e)(ii) of the wealth-tax act, 1957 which reads as under : 2. (e) 'assets' includes property of every description, movable or immovable but does not include,- (ii) any building owned or occupied by a cultivator of, or receiver of rent or revenue out of, agricultural land : provided that the building is on or in .....
Tag this Judgment!Court : Kerala
Reported in : AIR1959Ker182
..... of the madras state was, like the rest of that state area, not subject to any general law relating to agricultural income-tax. it was only income from plantations as defined in the madras plantations agricultural income-tax act v of 1955 that was subject to such tax. a system of land revenue including cesses and enhanced by surcharge and additional surcharges was on the other hand prevalent there ..... the petitioners was not allowable. the common complaint accordingly arose as to whether the travancore-cochin agricultural income-tax act, 22 of 1950, as amended by act 8 of 1957 hereinafter called the act, has effectively and validly authorised the levy of agricultural income-tax for the assessment year 1957-58 on the income derived from land situated in malabar and received by the petitioners during the 'previous year.' hence .....
Tag this Judgment!Court : Karnataka
Reported in : 1998(1)KarLJ276
..... the petitioner to pay a sum of rs. 10,657-50 representing tax due under the act for the period 1-4-1971 to 30th of september, 1988. the notice justified the demand on the ground that the petitioner was not solelydependent upon agricultural income which was according to the respondent an essential condition for an exemption under ..... being solely dependent on agricultural income so as to qualify for the grant of exemption under section 16(3) therefore did not arise. the notice is in these circumstances, clearly unsustainable. i may however hasten to add that the provisions of section 16(3) envisage grant of exemption from payment of tax under the act only in respect ..... the rules framed thereunder, it is apparent that the dependence of the owner of the motor vehicle upon income drawn out of agricultural pursuits, is not one of the requirements for thegrant of exemption from payment of tax under the act. the respondent appears to be conscious of this position for he has referred to rule 85-b .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1965]55ITR230(AP)
..... decision held that interest on arrears of rent payable in respect of agricultural land was not agricultural income, and, as a result of this decision, the income-tax officer initiated reassessment proceedings and brought the amount of rs. 93,604 again to tax under section 34(1) (b) of the income-tax act. on these facts, the supreme court held, firstly, that the ..... narasimham j., it was sought to be contended that the proviso to sub-clause (ii) to clause (vib) of section 10 (2) of the indian income-tax act has discriminated against the assessee who sells the plant to persons other than other government and that this discrimination is not based on an intelligible differentia, that there ..... no discrimination within the same class. it was also pointed out that the legislature was empowered to fix a minimum taxable limit of an individual assessee under the income-tax act at rs. 3,000, whereas in the case of an hindu undivided family, it is rs. 6,000. for this reason, the aforesaid provisions cannot .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (2004)88ITD638(Delhi)
..... agricultural operations were carried out then income from the sale of agricultural produce would amount to agricultural income. there is nothing in the act which may allow to tax such income on the reasoning adopted by the cit(a). in our considered opinion, once the income falls within the scope of expression 'agricultural income', ..... it has to be excluded from the total income of the assessee in view of section 10 of the act ..... are carried out in continuation of basic operations then, in our considered opinion, income from such nursery would be agricultural income not liable to tax under section 10 of the act. however, if the nursery is maintained independently without resorting to basic operations on the .....
Tag this Judgment!Court : Kerala
Reported in : [1973]90ITR496(Ker)
..... of the commissioner under section 60(1) of the agricultural income-tax act, 1950 (hereinafter referred to as ' the act '). the question referred is worded thus :' whether, on the facts and in the circumstances of the case, the finding of the tribunal that the income derived by the assessee by slaughter-tapping of rubber trees is not agricultural income is correct '2. the year of assessment is 1965 ..... , [1948] 16 i.t.r. 325 (p.c.) whether the interest payable on arrears of rent in respect of land used for agricultural purposes is agricultural income within the definition of that phrase contained in section 2(1) of the indian income-tax act, 1922. though the decision is not very helpful for deciding the question before us, we consider that a passage from it is ..... , the seal of the high court and the signature of the registrar will be sent to the appellate tribunal as required by sub-section (6) of section 60 of the agricultural income-tax act, 1950.
Tag this Judgment!Court : Gujarat
Reported in : (1963)0GLR741
..... value is arrived at after providing for normal depreciation at the rate permissible for the purpose under the provisions of section 10 of the income-tax act. when permitting such depreciation the income-tax authorities, as far as possible, try to give a deduction for depreciation which would approximate with the depreciation which as asset was likely to ..... other articles intended for the personal or household use of the assessee. it has excluded the tools and implements used by the assessee for the raising of agricultural produce. it has excluded tools and instruments necessary to enable the assessee to carry on his profession or vocation, subject to a maximum of twenty thousand ..... has been defined by section 2(e) as follow : '(e) 'assets' includes property of every description, movable or immovable, but does not include - (i) agricultural land and growing crops, grass or standing trees on such land; (ii) any building owned or occupied by a cultivator or receiver of rent or revenue out of .....
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