https://www.taxtmi.com/caselaws?id=60573 Green leaf cess paid by a tea company was treated as deductible in computing composite income under rule 8 of the Income-tax Rules, because the income from growing and manufacturing tea is first computed as business income before apportionment, and the later split into agricultural and business components does not permit a fresh disallowance at the agricultural stage. The revisional action under section 263 also failed because the Commissioner did not independently record that the assessment order was both erroneous and prejudicial to the interests of the Revenue. The earlier contrary ruling was distinguished on its facts and on the different Assam agricultural income-tax regime, with emphasis that judicial observations must be read in context. en-us Fri, 28 Jun 2002 00:00:00 +0530 Wed, 05 Jan 2011 18:59:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60573 Green leaf cess paid by a tea company was treated as deductible in computing composite income under rule 8 of the Income-tax Rules, because the income from growing and manufacturing tea is first computed as business income before apportionment, and the later split into agricultural and business components does not permit a fresh disallowance at the agricultural stage. The revisional action under section 263 also failed because the Commissioner did not independently record that the assessment order was both erroneous and prejudicial to the interests of the Revenue. The earlier contrary ruling was distinguished on its facts and on the different Assam agricultural income-tax regime, with emphasis that judicial observations must be read in context. Case-Laws Income Tax Fri, 28 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60573