https://www.taxtmi.com/caselaws?id=8210 Agricultural produce does not become assessable income merely on receipt; income arises only when it is sold, consumed, or otherwise used. On that basis, the value of pepper harvested in the previous year but neither sold nor consumed nor used could not be included in the relevant year's agricultural income, and the assessment against the assessee was incorrect. The Kerala HC also held that Commissioner of Income-tax v. A. Krishnaswami Mudaliar was inapplicable because that case concerned assessability under a cash system of accounting, whereas no income had arisen at all in the present year. The reference was answered in favour of the assessee, with costs. en-us Wed, 24 Feb 1971 00:00:00 +0530 Mon, 06 Apr 2009 09:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8210 Agricultural produce does not become assessable income merely on receipt; income arises only when it is sold, consumed, or otherwise used. On that basis, the value of pepper harvested in the previous year but neither sold nor consumed nor used could not be included in the relevant year's agricultural income, and the assessment against the assessee was incorrect. The Kerala HC also held that Commissioner of Income-tax v. A. Krishnaswami Mudaliar was inapplicable because that case concerned assessability under a cash system of accounting, whereas no income had arisen at all in the present year. The reference was answered in favour of the assessee, with costs. Case-Laws Income Tax Wed, 24 Feb 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8210