HOPEVILLE ESTATE Vs. STATE OF TAMIL NADU

JUDGEMENT

(1.) THIS is a petition under section 54 of the Tamil Nadu Agricultural Income -tax Act, 1955, to revise the order of the Agricultural Income -tax Appellate Tribunal, Madras, dated February 2, 1970.

(2.) THE matter lies within a very narrow compass. The petitioner claimed depreciation on the value of the tank said to have been constructed for the use of the workers, in the computation of the agricultural income. This claim was rejected by all the authorities on the ground that depreciation cannot be allowed as per the Central Income -tax Act. It is the correctness of this conclusion that is challenged in this tax revision petition.

(3.) RULE 4 of the Tamil Nadu Agricultural Income -tax Rules, 1955, states in sub -clause (1) thereof :