1973 (4) TMI 34

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.... a sum of Rs. 2,000 spent as stock exchange listing fee, as a deduction under the provisions of section 5(e) of the Madras Agricultural Income-tax Act in respect of the assessment for the year 1966-67. The assessing authority as well as the Appellate Assistant Commissioner rejected the said claim of the assessee. On appeal before the Tribunal, it was contended on behalf of the assessee that the sa....

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....um of Rs. 2,000. Before us, the learned counsel for the assessee contends that the Tribunal is not justified in rejecting the assessee's claim for deduction at least to the extent of Rs. 1,220 which represents the stock exchange listing fee referable to the tea income. It is pointed out by the learned counsel for the assessee that the tea and coffee income from the estate is in the ratio of 36:....

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....sed: " Having regard to the definition of " agricultural income " in article 366(1) of the Constitution and that found in the Income-tax Act, it is not open to the Agricultural Income-tax Officer to reopen the computation and adopt a different method of computation than the one adopted by the income-tax authorities, so as to increase the agricultural income, for that would mean that the Agricul....

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....the see did not produce before the Tribunal the proceedings of the Income-tax Officer or the appellate authority where the said claim for deduction was upheld. But the learned counsel for the assessee states that he will now produce the proceedings under the Income-tax Act where such deduction has been allowed, provided same time is given. We, however, consider that it is proper to remit the matte....