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2010 (4) TMI 364 - HC - Income TaxReassessment- The assessee having possession of certain lands. Entering into agreement to earmark lands in its possession for Scheme of growing teak trees. Under agreement shifting responsibility of growing and maintenance to another concern. Resultant surplus not income derived from agriculture or agricultural operations. Held that- (i) that the assessee had furnished incorrect particulars and therefore, the reopening of the assessment was justified. (ii) that the concurrent findings of fact were that the income was not directly relatable to agricultural operations nor derived from agriculture, but it was income derived for not encroaching upon the right to use the land for a specific purpose by S.
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