1978 (6) TMI 32

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....he question that arises in this case is whether the sale proceeds of certain trees cut and sold from the petitioner's rubber plantation could be assessed under the Travancore Cochin Agrl. I.T. Act, 1950. For the assessment year 1964-65, the petitioner had cut and sold albezzia and malavembu trees of the value of Rs. 19,725. This was included in the assessable income of the petitioner as determined....

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....t and sold during the assessment year could not be brought to tax. The Tribunal, however, distinguished the said decision and held that the principle of the decision would not apply to the facts of the case, as the albezzia and malavembu trees cut and sold during the assessment year had been specifically planted in the margins and vacant places of the plantation with a view to derive income by cut....

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.... previous assessment year 1963-1964 was held not to be a revenue receipt. Nellayappan Sastha & Bros. v. Commr. of Agrl. I.T. [1972] 86 ITR 151 (Mad) was a decision rendered in respect of the petitioner's own case for the previous assessment year. It is said that, in view of the said decision, the decision of the Tribunal, which is the subject-matter of the present tax reference, should be set asid....

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....-1965, fresh materials had been placed before it to indicate that the albezzia and malavembu trees had been specifically planted in the margins and vacant places in the plantation for the purpose of utilising them in the production of catamarans and the assessee was thus deriving an income therefrom. The Tribunal has specifically found that rubber plants do not require shade, that the trees in que....