1971 (5) TMI 24 - HC - Income Tax

Mysore Agricultural Income Tax Act - whether the provisions of section 12(e) and (g) read with section 3(2) of the Act are applicable in the matter of assessment to super-tax under Chapter VII-A of the Act held that, provisions relating to exemption and grant of rebate on insurance premia and donations under s. 3(2) and s. 12 apply to the assessment of super-tax

Summary

The High Court of Karnataka allowed two revision petitions related to the applicability of rebate on super-tax under Chapter VII-A of the Mysore Agricultural Income-tax Act, 1957. The court held that provisions of section 12(e) and (g) along with section 3(2) apply to the assessment of super-tax. The Tribunal's decision was deemed erroneous, and the petitioners were granted rebate on life insurance premia and donations. The assessing authority was directed to amend the assessment orders accordingly. The petitioners were awarded costs and advocate's fee of Rs. 100.