https://www.taxtmi.com/caselaws?id=49600 Income returned in the original assessment, but treated as exempt, could still be brought to reassessment under section 26 of the Bihar Agricultural Income-tax Act, 1938 because the provision allowed reassessment "for any reason" and did not require fresh information. The Court also construed the zarpeshgi instruments as lease deeds, not mortgage or loan transactions, since they contained no redemption clause, interest, or personal liability for balance. The receipts were therefore premium under a lease, derived from land, and constituted agricultural income in the assessee's hands. The appeal failed and the assessment was upheld. en-us Fri, 15 May 1959 00:00:00 +0530 Wed, 03 Sep 2014 22:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49600 Income returned in the original assessment, but treated as exempt, could still be brought to reassessment under section 26 of the Bihar Agricultural Income-tax Act, 1938 because the provision allowed reassessment "for any reason" and did not require fresh information. The Court also construed the zarpeshgi instruments as lease deeds, not mortgage or loan transactions, since they contained no redemption clause, interest, or personal liability for balance. The receipts were therefore premium under a lease, derived from land, and constituted agricultural income in the assessee's hands. The appeal failed and the assessment was upheld. Case-Laws Income Tax Fri, 15 May 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49600