PENINSULAR PLANTATIONS LIMITED Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE assessee, through the Tribunal, has brought before us the proceedings for the asst. yr. 1984- 85 and that too with regard to a limited situation as to whether the sums paid by the vendor could be understood as income in relation to the agreement or could be understood as rent of the land which is the subject-matter of the agreement in question.

(2.) INCIDENTALLY , the questions are as follows :

(3.) FOR the above reasons, we answer the questions as follows : Questions No.1 Answered in the affirmative - in favour of the Revenue and against the assessee. Question No. 2 Also answered in the affirmative - in favour of the Revenue and against the assessee. Question No. 3 Unnecessary Question No. 4 Answered in the affirmative - in favour of the Revenue and against the assessee. Question No. 5 Also answered in the affirmative - in favour of the Revenue and against the assessee.