TMI Blog2007 (10) TMI 230X X X X Extracts X X X X X X X X Extracts X X X X ..... ount received as insurance claim could be related only to 1992-93 and not to the agricultural income of 1994-95 is liable to be rejected – contentions raised by the petitioner are devoid of merits & they are accordingly rejected - 348 of 2003 - - - Dated:- 17-10-2007 - H. L. DATTU C. J. and K. T. SANKARAN J. JUDGMENT The judgment of the court was delivered by K. T. SANKARAN J.— 1. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 92-93 and not 1994-95. These contentions were rejected by the assessing authority which was confirmed in appeal by the Deputy Commissioner (Appeals), Commercial Taxes, Ernakulam and in further appeal by the Agricultural Income-tax and Sales Tax Appellate Tribunal, Additional Bench-I, Ernakulam. 3. The question of law raised by the assessee reads as follows: "In the facts and circumstances of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessment for any year in respect of loss, expenditure or liability incurred by the assessee; and where the assessee has obtained, either in cash or in any other manner any amount in respect of such loss, expenditure or some benefit in respect of such liability during the previous year the amount obtained by him, or the value of benefit accrued to him ;" 5. As per section 4, the income referre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt received as insurance claim could be related only to 1992-93 and not to the agricultural income of 1994-95 is liable to be rejected. The further contention that the amount of insurance claim received cannot be treated as agricultural income at all is also liable to be rejected in view of section 4(2)(ii) of the Act which covers any amount received in cash or in any other manner in respect of a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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