https://www.taxtmi.com/caselaws?id=49277 The High Court held that income received from the Coffee Board for coffee delivered before the enforcement of the Madras Plantations Agricultural Income-tax Act was not taxable for the assessment years 1955-56 and 1956-57. The court determined that income should be recognized when the crop was handed over and recorded in the books, following the mercantile system of accounting. The Court dismissed the State of Kerala's appeals, affirming that the amounts were rightfully excluded from assessable agricultural income, emphasizing the distinction between cash and mercantile accounting systems. en-us Thu, 07 Oct 1965 00:00:00 +0530 Tue, 19 Aug 2014 19:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49277 The High Court held that income received from the Coffee Board for coffee delivered before the enforcement of the Madras Plantations Agricultural Income-tax Act was not taxable for the assessment years 1955-56 and 1956-57. The court determined that income should be recognized when the crop was handed over and recorded in the books, following the mercantile system of accounting. The Court dismissed the State of Kerala's appeals, affirming that the amounts were rightfully excluded from assessable agricultural income, emphasizing the distinction between cash and mercantile accounting systems. Case-Laws Income Tax Thu, 07 Oct 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49277