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1972 (4) TMI 20 - MADRAS HIGH COURTPetitioner in this case returned a net income of Rs. 6,474.34 under the Madras Agricultural Income-tax Act, for the assessment year 1962-63 in respect of lands leased out to a sugar factory. In response to a notice under section 17(2) - it was however urged on behalf of the assessee that even the said sum did not represent the income of that year. The assessing authority, however, rejected the assessee's contention and computed the total income of the assessee at Rs. 37,814 calculating the rents @ of Rs. 175 per acre for 216.08 acres held by the assessee during the accounting year, and leased out to the sugar factory. The assessment order was challenged before the Assistant Commissioner of Agricultural Income-tax and later before the Agricultural Income-tax Appellate Tribunal but without success - even accepting the contention of the assessee that the date of accrual of the rents has been wrongly taken by the assessing authority, we cannot set aside the asssssment as such - tax revision cases are dismissed
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