2023 (4) TMI 897

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.....), SRI.V.ABRAHAM MARKOS, SRI.ABRAHAM JOSEPH MARKOS, SRI.ISAAC THOMAS, SHRI.ALEXANDER JOSEPH MARKOS, SHRI.VIPIN ANTO H.M., SHRI.SHARAD JOSEPH KODANTHARA RESPONDENTS: ADVS. SRI.P.K.RAVINDRANATHA MENON (SR.), SRI.JOSE JOSEPH, SC, FOR INCOME TAX JUDGMENT S.V.Bhatti, J. Heard Senior Adv. Joseph Markos for the appellant and Mr Navaneeth. N. Nath holding for Mr Jose Joseph, Standing Counsel ....

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....dy planted is revenue expenditure allowable under Section 37 of the Income Tax Act? 3) Whether, on the facts and circumstances of the case, Appellate Tribunal is right in holding that the cost of replantation of rubber trees in replacement of old and useless rubber trees in a previously planted area cannot be allowed under Rule 7A(2) of the Income Tax Rules? 4) Whether, on the fa....

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.... for the cost of replantation of useless rubber trees and the decision of this Hon'ble Court in the case of Rehabilitation Plantations vs CIT, reported in 251 CTR 343 CTR requires reconsideration? 4. The learned counsel appearing for the parties state that the questions of law framed in instant appeals are covered by the Full Bench order dated 01.08.2022 in I.T.A No.201/2013 and batch. The ....

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....he maturity of rubber trees are revenue expenditures eligible for deduction under Section 37 of Act 1961." 5. The questions framed in the instant appeals by following the order of the Full Bench in I.T.A No.201/2013 and batch are answered in favour of the Assessee and against the Revenue for statistical purposes. Consequent thereto the orders of: a) the Assessing Officer dated 31.01.20....