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TMI Blog2015 (9) TMI 1409X X X X Extracts X X X X X X X X Extracts X X X X ..... rtion the said income between non-agricultural income and agricultural income on 40:60 basis ? - Held that:- In view of the judgment of the Supreme Court of India in the case of Commissioner of Income Tax vs. Williamson Financial Services & Ors., reported in [2007 (12) TMI 16 - Supreme Court of India ], the question is covered against the assessee confirming the denial of assessee claim of deducti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ta [2011 (5) TMI 166 - CALCUTTA HIGH COURT ] wherein held where the assessee is involved in the business of growing and manufacturing tea, on the question of deduction in terms of Section 33AB of the Act, the answer to the same depends upon the interpretation of the phrase “a sum equal to twenty per cent of the profits of such business (computed under the head “Profits and gains of business or pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Income Tax Act, 1961 in computing the mixed income derived from the tea grown and manufactured by the assessee and thereafter in proceeding under Rule 8 of the Income Tax Rules, 1962 to apportion the said income between non-agricultural income and agricultural income on 40:60 basis ? (b) Whether the Tribunal on the facts and in the circumstances of the case was justified in law in applying th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me Tax Rules, 1962 between agricultural income and nonagricultural income should be made after the said deduction is allowed in the computation of composite income ? It is submitted by Mrs. Banerjee Pal, learned advocate for the appellant, that in view of the judgment of the Supreme Court of India in the case of Commissioner of Income Tax vs. Williamson Financial Services Ors., reported in [ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... So far as the question no.(c) is concerned, in view of the unreported judgment delivered on 19th May, 2011 in ITA 651 of 2004 [ Goodricke Group Ltd. vs. Commissioner of Income Tax-II, Kolkata ], the same is answered in the affirmative, in favour of the appellant/assessee and against the respondent/revenue. The appeal is disposed of. No order as to costs. - - TaxTMI - TMITax - Income Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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