1963 (7) TMI 79

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... . The accounting period with which we are concerned is the year ended December 31, 1956, and the assessment year is the financial year 1957-58. Two questions have been referred to this court for decision. They are; (i) Whether the amount realised by the sale of gravelia firewood is a revenue receipt liable to tax under the Kerala Agricultural Income-tax Act? Page No : 0130 (ii) Whethe .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rge on Taxes Act, 1957, came into force after the expiry of the accounting period, but before the expiry of the assessment year. The contention of counsel for the assessee is that the fact that the Act came into force only after the expiry of the accounting period precludes its application to the case before us. It is true that the subject of the charge is the income of the previous year. But, .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X