1996 (8) TMI 91

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..... e-tax Appellate Tribunal under section 256(2) of the Income-tax Act, 1961 (for short "the Act"), as per the direction of this court in Civil Rule No. 33(M) of 1992, for the opinion of this court : Whether, on the facts and in the circumstances of the case, the Tribunal has not erred in law in directing the Assessing Officer to ascertain the nature of the scraps sold to see whether such scrap was .....

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..... nt. Being aggrieved, the Revenue preferred an appeal against the said order before the Income-tax Appellate Tribunal. The Tribunal while remanding back the matter to the Assessing Officer had directed him to ascertain the nature of the scrap sold and to see whether such scrap was immediately connected with the business so as to determine the taxability of income from such sale proceeds to be 100 p .....

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..... s, 1962, taking the income as a whole both agricultural and other business. The Assessing Officer has to take only 40 per cent. income for the purpose of making assessment under rule 8 of the said Rules and the remaining 60 per cent. under the agricultural income. But that does not mean that income derived by the tea company cannot form and compute as 100 per cent. income. If the income is derived .....

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