Court : Madhya Pradesh
Reported in : [1997]227ITR81(MP); 1997(2)MPLJ138
..... came up for consideration and their lordships observed with regard to the kerala agricultural income-tax act, thus (headnote of air 1963 sc) :'article 366 provides that unless the context otherwise requires, the expression 'agricultural income' in the constitution means agricultural income as defined for the purpose of the enactments relating to indian income-tax. therefore, the agricultural income about which a state legislature may enact under entry 46 of list ii ..... partially from manufacturing processes.'14. it is recognised that whatsoever definition has been given in the income-tax act shall be deemed to have been adopted under the constitution also. the agricultural income which has been defined in the income-tax act does not include any other income than the income derived from agricultural operations or rent or revenue from the land and not from the sale of the land. therefore .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : AIR1961MP282
..... an application under article 226 of the constitution of india by a sugar company having its registered office at sehore challenging the constitutionality of the bhopal state agricultural income-tax act, 1953, on the ground that it is repugnant to article 14 of the constitution of india.2. the petitioner-company was incorporated in the former bhopal ..... the decision in air 1959 kerala 182, (fb) does not support the contention advanced by the learned advocate general. in that case when the travancore-cochin agricultural income tax act, 1950, was extended to the district) of malabar which was transferred from the state of madras to the state of kerala on the reorganisation of the ..... circumstances to constitute a sufficient justification for the continuance of the law. here it cannot be urged with any degree of force that the bhopal state agricultural income-tax act, 1953, is a legislation meant for the amelioration of the people of the former bhopal state, or it was in their welfare that the law .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [2002]253ITR361(MP)
..... revised return declaring total income at rs. 8,70,000 and reduced the agricultural income by this amount. with an intention to regularise the revised return, the assessing ..... appeal preferred by the assessee against the order passed by the commissioner of income-tax exercising powers under section 263 of the act, has been allowed.3. initially, the assessment of the respondent-assessee was completed under section 143(3) of the act, showing nil income with certain agricultural income only vide order of the income-tax officer dated march 31, 1994. the assessee thought it fit to file .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1965]56ITR186(MP)
..... where the assessee claimed deduction of the interest paid by him on moneys borrowed for the purpose of purchasing a plantation. the deduction was claimed under the madras agricultural income-tax act, 1955. rajagopalan j., who delivered the judgment of the court, while expressing his disagreement with the observations of stone c.j. in metro theatres case, ..... years 1953-54 and 1954-55. according to the decision of the supreme court in maharaj kumar kamal singh v. commissioner of income-tax two conditions must be satisfied before the income-tax officer can act under section 34(1)(b). they are, that he must have come into possession, subsequent to the making of the assessment order ..... , and so covers information as to relevant judicial decisions. in maharaj kumar kamal singhs case the supreme court left open the question whether the income-tax officer could act under section 34(1)(b) even if he merely changed his mind without any information from an external source and came to the conclusion that .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1980)16CTR(MP)383; [1981]127ITR431(MP); 1980MPLJ514
..... is contained in para. 12 of its order and is as follows :'the character of this land is clearly that of an agricultural land and hence any income from sale of a portion of this land cannot be taxed under the indian income-tax act. it is merely a return of the capital investment. this is the clear view which comes out from the facts of ..... following questions of law :'(1) whether, on the facts and in the circumstances of the case, the land sold by the assessee was agricultural land, the surplus on the sale of which was not chargeable to tax under the income-tax act, 1961 ? (2) whether, on the facts and in the circumstances of the case, the surplus of rs. 4,447,rs. 10,607, ..... been carried on. it was also stated that the land was subject to payment of land revenue, that it was agricultural in nature and the profit arising from sale of part of the land was exempt from income-tax under the i.t. act. the same stand was taken in a subsequent letter.9. the ito held that the purchase of land was with .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1989]177ITR339(MP)
..... of the word, the principal disappears and the annuity which takes its place is chargeable to tax. the privy council in maharajkumar gopal saran narain singh v. cit [1935] 3 itr 237 has held (i) that the annual payment was not an agricultural income, as it was not rent or revenue derived from land but money payable under a contract ..... his hands and not a case in which he had exchanged his estate for a capital sum payable by instalments ; and (iii) that this income was taxable under the income-tax act even though the annuity did not constitute or provide profit or gain to the assessee. here, the assessee, on his retirement from the firm, retained his ..... following from the circumstances precluding commutation of the amount of rs. 25 lakhs payable annually and it was, therefore, exempt under section 2(e)(iv) of the wealth-tax act. it has rightly been found here by the tribunal that the agreement does not preclude commutation of the amount of rs. 50,000 received by the assessee annually from .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1976]103ITR499(MP)
..... remain in existence and is converted into rice. but even after such conversion and change, rice remains in the class of ' agricultural produce '. the term 'agricultural produce' has not been defined in the income-tax act and, therefore, we have to adopt the meaning as commonly understood and incorporated in the dictionaries. 'wheat' and 'rice', ..... derived from a consideration of the terms of the income-tax act and the authorities referred to is that where an assessee receives income not itself of a character to fall within the definition of agricultural income contained in the act, such income does not assume the character of agricultural income by reason of the source from which it is ..... expression must, in our view, be given a meaning which is in consonance with the scheme of the income-tax act. under section 2(1) of the act, the underlying principle is that receipts out of agricultural produce are not taxable in the hands of the cultivator. that scheme for exemption would extend not only .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (2005)198CTR(MP)675; [2005]275ITR54(MP)
..... law arise on the facts and circumstances of the case for consideration :(i) whether the income-tax appellate tribunal was justified in law in quashing the order passed by the commissioner of income-tax under section 263 of the income-tax act, 1961 ?(ii) whether the income-tax appellate tribunal was justified in law in holding that the order passed by the assessing officer ..... r.v. raveendran, c.j.1. this appeal by the revenue under section 260a of the income-tax act, 1961 ('the act' for short), is against the order of the income-tax appellate tribunal, indore bench, dated march 26, 2004, in i. t. a. no. 502/ind of 2003 relating to the assessment year 1998-99.2. the ..... respect of which payments were due by it, as mentioned in the books of account. even assuming there was any technical violation of the provisions of the agricultural produce marketing act, in not paying the amount on the date of sale, that does not in any way affect the genuineness of the transactions which were duly proved.13. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1988]171ITR124(MP)
..... of section 2(1) of the income-tax act and is not liable to tax as capital gains under the provisions of the income-tax act, 1961 ?'2. the material facts giving rise to this reference, briefly, are as follows :the assessee is a ..... (1) of the income-tax act, 1961 (hereinafter referred to as 'the act'), the income-tax appellate tribunal, indore bench, has referred the following question of law to this court for its opinion :'whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the profit derived by the assessee on the sale of agricultural land is agricultural income within the meaning .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [2002]257ITR91(MP)
..... tax under section 4 of the act, which is the charging section, is erroneous. in support of his submission he ..... section 11 of the income-tax act 1961 ?'3. mr. arya submits that the agricultural income has to be taken into account for the purpose of computing the accumulation under section 11(1)(a) of the income-tax act (hereinafter referred to as 'the act') and the view taken by the income-tax appellate tribunal that income from agriculture is exempted from the tax under section 10(1) of the act and not chargeable to .....
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