https://www.taxtmi.com/caselaws?id=15656 Entitlement to compounding under the Tamil Nadu Agricultural Income-tax Act depends on whether the assessee held land in excess of the exempted extent at any time during the financial year. Section 10(1) denies the benefit once the maximum extent held during the year crosses the limit, and Section 65 does not require continuous holding throughout the assessment year. Because the year is the unit of assessment, a later reduction in landholding does not restore eligibility after the exempted limit has been exceeded. On these principles, the claim for compounding was correctly rejected. en-us Thu, 25 Sep 1997 00:00:00 +0530 Wed, 26 Aug 2009 17:03:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15656 Entitlement to compounding under the Tamil Nadu Agricultural Income-tax Act depends on whether the assessee held land in excess of the exempted extent at any time during the financial year. Section 10(1) denies the benefit once the maximum extent held during the year crosses the limit, and Section 65 does not require continuous holding throughout the assessment year. Because the year is the unit of assessment, a later reduction in landholding does not restore eligibility after the exempted limit has been exceeded. On these principles, the claim for compounding was correctly rejected. Case-Laws Income Tax Thu, 25 Sep 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15656