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<h1>High Court dismisses applications under Income-tax Act for assessment years 1980-81 and 1981-82.</h1> The High Court of Allahabad dismissed two applications under section 256(2) of the Income-tax Act, 1961 for assessment years 1980-81 and 1981-82. The ... Reference The High Court of Allahabad dismissed two applications under section 256(2) of the Income-tax Act, 1961 for assessment years 1980-81 and 1981-82. The question of law raised was whether the income derived by the assessee-company should be considered as agricultural income. The Tribunal held that the income was agricultural income based on the agreement with Bhumidhars of land. The court found the submissions against this devoid of merit and upheld the Tribunal's decision.