LAWS(KER)-1975-9-11

COMMISSIONER OF AGRICULTURAL INCOME TAX Vs. VELLIMALA ESTATE

Decided On September 17, 1975
COMMISSIONER OF AGRL. INCOME-TAX Appellant
V/S
VELLIMALA ESTATE Respondents

JUDGEMENT

(1.) THE question referred by the Kerala Agricultural Income-tax Appellate Tribunal for the assessment year 1967-68 under the Agricultural Income-tax Act, 1950, is in these terms :

(2.) THE relevant facts have been stated in paragraphs 2, 3 and 4 of the statement of the case which are in these terms :

(3.) THE same view has been taken by the Supreme Court in the decision in Commissioner of Income-tax v. Indian Molasses Co. P. Ltd. [1970] 78 ITR 474, 482 (SC), which is in these terms :