1987 (4) TMI 60

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....-The following questions have been, at the instance of the Revenue, referred to us by the Income-tax Appellate Tribunal, Cochin Bench: " 1. Whether, on the facts and in the circumstances of the case, the Tribunal is right in law and fact in finding that 'the idea of the assessee is to cultivate it till it is disposed of' and is not the above finding wrong, unreasonable and without materials and....

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.... ground that there was no evidence of any agricultural activity in the property during the relevant period. The Appellate Assistant Commissioner confirmed the finding of the Wealth-tax Officer as regards its ineligibility to exemption under the Act, but he reduced the value of the land to some extent. On further appeal by the assessee, the Tribunal noticed that there was a tank in the property ext....

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....me to the opposite conclusion. If the Tribunal had asked itself the right question, it would have, on the basis of the evidence on record, found that there were only 16 trees in the property. The Tribunal also would have found that the assessee did not supply any evidence as regards the age of those trees or as regards the agricultural activity at the relevant time in the nature of weeding, til....

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.... on record, come to the conclusion opposite to which it had reached. The finding of the Tribunal was, therefore, perverse: See also the decisions of the Madras High Court in M. Ranganatha Sastri v. CIT [1979] 119 ITR 488 and Gemini Pictures Circuit Pvt. Ltd. v. CIT [1981] 130 ITR 686 (Mad). Counsel for the assessee submits that a second opportunity should be given to the assessee to address the....