https://www.taxtmi.com/caselaws?id=68933 Section 19A of the Tamil Nadu Agricultural Income-tax Act applies only where income of the immediately preceding previous year escaped assessment because the value of agricultural produce closing stock was omitted under the accounting method used. Its application requires specific findings identifying the omitted closing stock and the relevant accounting facts. Under the mercantile system, coffee sale proceeds are assessable in the year of sale; without a specific factual finding supporting an addition for the relevant assessment year, reassessment cannot be sustained. The stated analysis concludes that the reassessment and disputed addition fail where these statutory conditions are not established. en-us Tue, 01 Sep 1981 00:00:00 +0530 Mon, 04 Apr 2011 11:12:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68933 Section 19A of the Tamil Nadu Agricultural Income-tax Act applies only where income of the immediately preceding previous year escaped assessment because the value of agricultural produce closing stock was omitted under the accounting method used. Its application requires specific findings identifying the omitted closing stock and the relevant accounting facts. Under the mercantile system, coffee sale proceeds are assessable in the year of sale; without a specific factual finding supporting an addition for the relevant assessment year, reassessment cannot be sustained. The stated analysis concludes that the reassessment and disputed addition fail where these statutory conditions are not established. Case-Laws Income Tax Tue, 01 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68933