1980 (11) TMI 21

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..... rala Agricultural Income-tax Appellate Tribunal, Additional Bench, Kozhikode, hereinafter called " 'the Tribunal ", has referred to this court the following two questions of law as arising out of its order dated June 29, 1978, in A.I.T.A. Nos. 189 to 194 and 270 of 1974. The questions of law are: " 1. Was the Tribunal justified in rejecting the claim for deduction of the expenses for stock exchan .....

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..... er plantation. For the assessment years 1965-66 to 1971-72, the assessee had claimed before the assessing authority deductions in respect of, (a) expenses incurred by it for stock exchange listing fee; (b) loss suffered on the sale of assets including tools; (c) provision made by the assessee-company for bad debts for the year 1969-70; and (d) the amount paid by the assessee-company by way of cont .....

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..... ale of assets inclusive of machinery, tools, etc. We have expressed the view that these items will not constitute expenditure wholly and exclusively for the purpose of deriving the agricultural income. Applying the said dictum to the present case, it has to be held that the Tribunal was perfectly right in taking the view that the claim for deduction put forward by the assessee under the aforementi .....

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..... put forward by the assessee for a deduction of the amount paid by it by way of contribution towards expenses for the construction of a bridge. Admittedly, the road on which the, bridge was constructed Was outside the estate of the assessee and was a public road and the construction of the bridge was undertaken by some welfare committee with which the assessee had no direct connection. We are unabl .....

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..... velopment work, national extension service work or local development programme work. Hence, the assessee cannot invoke for its aid the provision contained in r. 8D for the purpose of claiming deduction of the amount contributed by it towards the expenditure for the construction of the bridge. The second question is answered as above, that is, against the assessee and in favour of the department. T .....

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