https://www.taxtmi.com/caselaws?id=450601 An undefined commercial expression in a taxing statute must be construed in its ordinary common parlance sense: tea saplings were not treated as "tea" for the charging provision of the Bengal Agricultural Income Tax Act, so income from their sale was not taxable. A special computation provision for a company, containing a non-obstante clause, prevailed over the general computation provision and the rules framed under it: section 7A governed depreciation and computation of agricultural income, and section 7 with Rule 3 did not apply. The tribunal's contrary approach was set aside, and the matter was remitted for fresh assessment after hearing the assessee. en-us Tue, 05 Mar 2024 00:00:00 +0530 Fri, 08 Mar 2024 17:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450601 An undefined commercial expression in a taxing statute must be construed in its ordinary common parlance sense: tea saplings were not treated as "tea" for the charging provision of the Bengal Agricultural Income Tax Act, so income from their sale was not taxable. A special computation provision for a company, containing a non-obstante clause, prevailed over the general computation provision and the rules framed under it: section 7A governed depreciation and computation of agricultural income, and section 7 with Rule 3 did not apply. The tribunal's contrary approach was set aside, and the matter was remitted for fresh assessment after hearing the assessee. Case-Laws Income Tax Tue, 05 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450601