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I.T.O. Ward-4 (4) Kolkata Versus M/s. Bhaskar Tea & Industries Ltd.

Cess on green leaf - allowable expenditure - whether directly attributable to core agriculture activities which is taxable under state agriculture income tax, beyond the purview of Central Income Tax ? - Held that:- The issue is concluded by the decision in the case of CIT vs AFT Industries Ltd. (2004 (7)81 - CALCUTTA High Court) where the amount paid as cess was held as eligible for deduction in computing the composite income under Rule 8 of I.T. Rules. This issue is, therefore, decided in favo .....

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- SUPREME COURT] wherein the Hon’ble Supreme Court has upheld view as was taken in the case of AFT Industries Ltd. (supra). In view of the above, the appeal by the revenue is dismissed. - I.T.A No. 451/Kol/2014 - Dated:- 3-2-2017 - Sri N. V. Vasudevan, JM And Shri Waseem Ahmed, AM For the Appellant : Shri Sallong Yaden, Addl. CIT, Sr.DR For the Respondent : Shri P.K.Sanghai, FCA ORDER Per N.V.Vasudevan, JM This is an appeal by the Revenue against the order dated 12.12.2013 of CIT(A)-IV, Kolkata .....

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engaged in the business of growing and manufacturing of Tea. Income from growing, manufacturing and sale of tea would be Composite income, which means it comprises agricultural income to the extent of growing tea, which is not chargeable to tax and non-agricultural income to the extent it comprises of income from manufacture and sale of tea, which income is chargeable to tax. Rule 8 of the Income Tax Rules, 1962 provides method of computation for composite income from manufacture of tea. Under R .....

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the Assessee was that the entire green leaf cess had to be allowed as deduction first and only on the loss or profit arrived at after such deduction Rule 8(1) of the Rules have to be applied and 40% of such sum has to be considered as income or loss from the business of manufacture and sale of tea. 4. On appeal by the Assessee, the CIT(A) deleted the disallowance made by the AO by following the order of the Hon'ble Calcutta High Court in the case of AFT Industries Ltd. vs CIT (270 ITR167) wh .....

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