KANTHIMATHY PLANTATIONS LIMITED Vs. STATE OF TAMIL NADU

JUDGEMENT

(1.) THE assessee is the petitioner in the above tax revision under the provisions of the Tamil Nadu Agricultural Income-tax Act, 1955. THE Tribunal partly allowed the claims made before it by the assessee and not satisfied with the extent of relief granted by the Tribunal, the present revision has been filed.

(2.) IN the revision before us, the petitioner has challenged the disallowance of the deduction claimed on the following categories of income and expenditure :

(3.) SO far as the claim relating to deduction pertaining to rubber replanting subsidy received from the Rubber Board under the Replanting Subsidy Scheme is concerned, a Division bench of this court in Velimalai Rubber Co. Ltd. v. Agrl. ITO [1991] 188 ITR 262 has already held that the subsidy received from the Rubber Board under the Development Replanting Subsidy Scheme could not be considered as revenue receipt and, consequently, could not be subjected to tax. This decision has also been followed by us in subsequent cases.