9911796707
TMI Blog1987 (4) TMI 60X X X X Extracts X X X X X X X X Extracts X X X X ..... to us by the Income-tax Appellate Tribunal, Cochin Bench: " 1. Whether, on the facts and in the circumstances of the case, the Tribunal is right in law and fact in finding that 'the idea of the assessee is to cultivate it till it is disposed of' and is not the above finding wrong, unreasonable and without materials and based on surmises and conjectures ? 2. Whether, on the facts and in the ci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... during the relevant period. The Appellate Assistant Commissioner confirmed the finding of the Wealth-tax Officer as regards its ineligibility to exemption under the Act, but he reduced the value of the land to some extent. On further appeal by the assessee, the Tribunal noticed that there was a tank in the property extending to about 10 cents. The rest of the property, being 43 cents in extent, h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion, it would have, on the basis of the evidence on record, found that there were only 16 trees in the property. The Tribunal also would have found that the assessee did not supply any evidence as regards the age of those trees or as regards the agricultural activity at the relevant time in the nature of weeding, tilling, sowing, watering, planting, etc. There was total absence of evidence of agr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Tribunal was, therefore, perverse: See also the decisions of the Madras High Court in M. Ranganatha Sastri v. CIT [1979] 119 ITR 488 and Gemini Pictures Circuit Pvt. Ltd. v. CIT [1981] 130 ITR 686 (Mad). Counsel for the assessee submits that a second opportunity should be given to the assessee to address the Tribunal with reference to the right principle. If there was evidence on record, w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xercise in futility to accede to the request for another opportunity. In the circumstances, we answer the questions in favour of the Revenue and against the assessee. We direct the parties to bear their respective costs in this tax referred case. A copy of this judgment under the seal of the High Court and the signature of the Registrar shall be forwarded to the Income-tax Appellate Tribunal, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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