TaxTMI 
TaxTMI 
1976 (8) TMI 30
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....roperty and the income therefrom is not assessable. income as defined in the Act ? (2) Whether, on the facts and in the circumstances of the case, the Tribunal is justified in holding that only the instalment due referable to the year under consideration, namely, Rs. 1,245, as disclosed by the assessee is assessable and not the entire amount ? " We are concerned with assessment year 1965-66. The assessee had not taken into account the income attributable to a house called the Kanika House situated in the immediate vicinity of agricultural lands measuring about 35 acres all located within the municipal area of Cuttack which was also used as the residence of the assessee and claimed that the income attributable to the dwelling house was....
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....gets quantified though, for purposes of working out the quantum of interest to be paid to the ex-proprietor, the rate indicated on annual basis has to be taken into account. This being the position, we are of the view that the Tribunal went wrong in holding that interest was accruing to the assessee year after year since abolition of the estate till payment of the compensation ". On this reasoning, this court held that the total interest was assessable during the year of receipt, namely, assessment year 1965-66, and not in any earlier year. Our answer to the second question, therefore, is : On the facts and in the circumstances of the case, the Tribunal was not justified in holding that only the instalment due referable to the year un....
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....nd, by reason of his connection with the land, requires as a dwelling house, or as a store-house, or other outbuilding, and (ii) the land is either assessed to land revenue in India or is subject to a local rate assessed and collected by the officers of the Government as such or where the land is not so assessed to land revenue or subject to a local rate, it is not situated-- (A) in any area which is comprised within the jurisdiction of a municipality (whether known as a municipality, municipal corporation, notified area committee, town area committee, town committee or by any other name) or a cantonment board and which has a population of not less than ten thousand according to the last preceding census of which the relevant figures ....
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.... prescribing alternatively that even if the described condition, as indicated earlier, of assessment to land revenue et cetera is not satisfied, the income from the farm house may still be treated as agricultural income if one of the two following circumstances exists, namely, (a) either the land is not situated within the jurisdiction of a municipality et cetera or a cantonment board having a population of ten thousand or more inhabitants ; or (b) the land is situated beyond a distance of eight kilometres (or such shorter distance, if any, notified by the Central Government in respect of any urban area) from the local limits of a municipality or cantonment board having a population of ten thousand or more inhabitants. Prior to the Taxat....