1984 (8) TMI 45

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....ssee is a partner of a firm owning tea estates. He is assessed as an individual in respect of his one-half share. For the assessment years 1970-71, 1971-72 and 1972-73, the assessee filed returns under the W.T. Act, 1957, showing his net wealth after claiming certain exemptions. One of the items claimed as exemption was in respect of growing crops as provided under s. 5(1)(viiia) as it stood at the relevant time. The exemption was claimed for the total value of the buds and leaves plucked from the tea bushes. The WTO, however, accepted the claim only to the extent of 20 per cent. In refusing the claim in respect of the other 80 per cent., the officer followed an earlier decision of the Tribunal in WTA Nos. 73, 74 and 75/Coch/1974-75 (annexu....

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....s at the bar, we seriously doubt the correctness of this assumption, should that be the assumption on the basis of which the officer restricted the exemption to 20 per cent. If 8,23,051 kgs. for the assessment year 1970-71, represented the total quantity of raw materials plucked at the rate of two leaves and one bud from each bush every season, the officer was in error in limiting the exemption to 20 per cent., for such limitation has no validity in law. From the orders it would appear that 8,23,051 kgs. represented nothing other than the leaves and buds plucked as raw material What the officer says is: "........... The total quantity of green leaves obtained by the assessee on the valuation date is 8,23,051 kgs ............" It is un....