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TMI Blog1971 (9) TMI 64X X X X Extracts X X X X X X X X Extracts X X X X ..... plicant for the purpose of its accounts ? Held that:- The questions set out in the application of the assessee do arise for consideration and, therefore, the High Court should have directed the Tribunal to refer those questions to the High Court for its opinion. In the result, we allow the appeal and direct the Tribunal to refer the two questions set out in the application of the assessee to the High Court for its opinion. Appeal allowed. - C.A. 10 OF 1969 - - - Dated:- 22-9-1971 - Judge(s) : A. N. GROVER., K. S. HEGDE., H. R. KHANNA JUDGMENT The judgment of the court was delivered by HEGDE J.---This appeal by special leave arises from a decision of the Kerala High Court refusing to direct the Tribunal to submit the two qu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e as per Explanation (2) to section 5 of the Act." This question was considered by the Tribunal while dealing with the assessee's appeal before it and the Tribunal observed in its order: "The first contention raised before us is that the Deputy Commissioner went wrong in upholding the disallowance of Rs. 79,680, on the sole ground that the expenditure has been capitalised in the appellant-company's accounts. The identical question under similar circumstances, relating to the assessment on the appellant-company for 1963-64 arose in Appeal AITA. 22464. We have as per our order dated November 19, 1965, found the contention against the appellant-company. For the reasons discussed therein, we find that the authorities below are perfectly j ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enditure incurred by the assessee. Explanlation to that section reads : " Nothing contained in this section shall be deemed to entitle a person deriving agricultural income to deduction of any expenditure laid out or expended for the cultivation, upkeep or maintenance of immature plants from which no agricultural income has been derived during the previous year. " According to Dr. Seyid Muhammed, the books of account maintained by the assessee clearly show that the assessee itself has held out that the sum of Rs. 79,680, with which we are concerned in this appeal, were expended or laid out for the cultivation, upkeep or maintenance of immature plants. It may be so, but what the assessee complains is that it should have been given an o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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