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Citation: 1972 PTD 389
Court: Kerala High Court
Year: 1971
Decision Date: 1971-12-31
Parties: A. K. T. K. M. VISHNUDATTA ANTHARJANAM vs COMMISSIONER OF JUDGMENT
Case cited as 1972 PTD 389
Court Name: Kerala High Court Judge(s): M. U. Isaac, P. Narayan Pillai Title:A. K. T. K. M. VISHNUDATTA ANTHARJANAM vs COMMISSIONER OF JUDGMENT Reported As: 1972 PTD 389 Result: question is in the negative Judgment JUDGMENT ISAAC, J.----The following two questions have been referred for the decision of this Court by the Kerala Agricultural Income-- Tax Appellate Tribunal under section 60(1) of the Agricultural Income- tax Act, 1950, on the application of the assessee: (1) Whether on the facts and in the circumstances of the case, the receipt from the sale of teak tress for the purpose of planting the area with rubber is capital in nature and exempt from the Agricultural Income-tax Act. (2) If the answer to the above question is in the negative, whether the expenses incurred in the prior years for the purpose of obtaining the said agricultural income it allowable as a deduction from the proceeds of the trees. The relevant assess neat years are 1963-64 and 1964-65; and the corresponding previous years are 1137 M.E. And 1138 M.E. The assessee planted teak in 1122 M.E. For the purpose of deriving income by the sale of trees. In 1137 M.E., the teak trees were sold for a sum of Rs. 76,600 out of which she received Rs. 43,250 in the same yeas, and the balance was received in the year 1138 M.E. The assessee's total agricultural income for the year 1963-64 was determined at Rs. 62,021 including the sum of Rs. 43,250 received by sale of teak trees, while her total agricultural…
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