1969 (10) TMI 15 - HC - Income Tax

Kerala Agricultural Income Tax Act, 1950 - Whether, on the facts and in the circumstances of the case, the principle that subsequent events can be taken into consideration by a court in granting relief to parties is applicable in the matter of assessment of the tea income of the company under the Agricultural Income-tax Act - Held, yes

Summary

The High Court of Kerala held that the Appellate Tribunal had the jurisdiction to admit additional evidence regarding subsequent events in the matter of assessment of tea income under the Agricultural Income-tax Act. The Tribunal's action was deemed correct based on relevant regulations and precedent. The first question was answered in favor of the assessee, rendering the second question irrelevant. No costs were awarded, and a copy of the judgment was to be sent to the Tribunal.