UGAR SUGAR WORKS LIMITED Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) THIS revision under s. 55 of the Karnataka Agricultural Income-tax Act, 1957 (called shortly "the Act"), is directed against the order of the Tribunal dated July 31, 1978, passed in A.I.T.A.P. No. 24 of 1976. The petitioner is a public limited company (shortly "the company"). It has its sugar factory called "M/s. Ugar Sugar Works Ltd." at Ugarkhured in Belgaum District. The company also owns some agricultural lands wherein it grows sugarcane and utilises the same in the manufacture of sugar in its factory, in addition to the sugarcane it buys from other growers.

(2.) FOR the assessment year 1957-58, the company returned its agricultural income claiming several deductions. The deductions claimed are as follows :

(3.) THE correctness of the view taken by the Tribunal is questioned in this revision petition.