FOREST DEVELOPMENT CORPORATION OF MAHARASHTRA LIMITED, THROUGH ITS MANAGING DIRECTOR, J N SAXENA Vs. ADDITIONAL COMMISSIONER OF INCOME TAX, SPECIAL RANGE I, NAGPUR
HIGH COURT OF BOMBAY
Forest Development Corporation Of Maharashtra Limited, Through Its Managing Director, J N Saxena
Additional Commissioner Of Income Tax, Special Range I, Nagpur
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M.S. Sanklecha, J. -
(1.) This appeal under Section 260A of the Income Tax Act, 1961 ("the Act") assails the order dated 23.4.2004 passed by the Income Tax Appellate Tribunal ("the Tribunal"). The impugned order is a common order relating to Assessment Years 1998-99 and 1999-2000. The appellant has, as undertaken by them on 24.7.2017, paid the additional court fee. Thus, this appeal is being treated as a common appeal for the two Assessment Years.
(2.) This appeal was admitted on 19th April, 2005 on the following two substantial questions of law :
1)Whether in the facts and circumstances of the case and in law the ITAT and the Authorities below were right in splitting the income derived from the turn key contract of plantation in two different stages to determine whether such income is from the Agricultural operations ?
2)Whether in the facts and circumstances of the case and in law the ITAT and the Authorities below erred in holding that the income derived by the appellant from the turnkey contract of plantation is not the agricultural income as defined under Section 2(1A)(b)(ii) and (iii) of the Income Tax Act, 1961 ?
(3.) For the sake of convenience, we will refer to the facts relating to Assessment Year 1998-99. It is an agreed position between the parties that the facts for both the Assessment Years are similar. Therefore, the facts in one year can be conveniently referred to for answering the above substantial questions of law.;
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