Home Case Index All Cases VAT and Sales Tax VAT and Sales Tax + SC VAT and Sales Tax - 1962 (11) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1962 (11) TMI 44 - SC - VAT and Sales TaxPraying for a declaration that the Agricultural Income-tax (Amendment) Act, 1961 enacted by the Kerala State Legislature, is null and void - that the State's power to tax income from tea to agricultural income-tax is limited to taking 60% of the income computed for the purpose of the Indian Income-tax Act as if it were income derived from business and for the issue of appropriate orders to the respondents, viz., the State of Kerala. Held that:- Appeal allowed. Declare that Explanation 2 to section 5 of the Agricultural Income-tax Act added by the Amendment Act does not cover the expenses incurred in the upkeep or maintenance of immature tea plants from which no income has been derived during an accounting year and that the agricultural income derived from tea plantations will be computed in accordance with the provisions of the Income-tax Act and the Income tax Rules - writ be issued to the respondents restraining them, their agents and servants, from enforcing or acting upon the provisions of Explanation 2 to section 5 of the Agricultural Income-tax Act against the Karimtharuvi Tea Estates Ltd., Kottayam, viz., petitioner No. 1.
|