COMMISSIONER OF AGRICULTURAL INCOME TAX Vs. EMERALD VALLEY ESTATES LIMITED

JUDGEMENT

(1.) THESE references are at the instance of the Revenue and relate to the asst. yrs. 1972 73, 1973 74 and 1974 75. The question referred in these references is the same, viz. :

(2.) THE question so referred is covered directly in favour of the assessee and against the Revenue by a recent decision of this Court in CIT (Agrl.) vs. Malayalam Plantations Ltd. (1979) 8 CTR (Ker)348: (1978) 115 ITR 624 (Ker.) Following the said judgment, we answer the question referred in the affirmative, that is, in favour of the assessee and against the Revenue. No order as to costs.