Law:

Section:

-Section 5(e) - Tamil Nadu Agricultural Income-tax Act, 1955 CASE REFERRED TO Stanmore (Anamallay) Estates Ltd v. Government of Madras [1973] 92 ITR 168 (Mad.) JUDGMENT Ramanujam, J. - The assessee in this case claimed a sum of Rs. 2,000 spent as stock exchange listing fee, as a deduction under the provisions of section 5(e) of the Madras Agricultural Income-tax Act in respect of the assessment for the year 1966-67. The assessing authority as well as the Appellate Assistant Commissioner rejected the said claim of the assessee. On appeal before the Tribunal, it was contended on behalf of the assessee that the said sum, so far as it is referable to the cultivation of tea, should have been allowed as a deduction. The Tribunal held that even in respect of the tea income, the stock exchange listing fee referable to that income cannot be allowed as a deduction, for the reason that the payment has nothing to do with the earning of the tea income. Before the Tribunal, it was also submitted by the assessee that a sum of Rs. 1,220 out of the said sum of Rs. 2,000 has been allocated to the tea income and that in the income-tax assessment, the assessee has been allowed a deduction of the said sum. But it appears that the actual assessment order had not been produced before the Tribunal. The Tribunal, therefore, ultimately proceeded to reject the claim of the assessee for a deduction of the entirety of the sum of Rs. 2,000. 2. Before us, the learned counsel for the assessee contends that the Tribunal is not justified in rejecting the assessee's claim for deduction at least to the extent of Rs. 1,220 which represents the stock exchange listing fee referable to the tea income. It is pointed out by the learned counsel for the assessee that the tea and coffee income from the estate is in the ratio of 36: 23, that the expenditure incurred in paying the stock exchange listing fee is to be allocated in the said ratio between the tea and coffee incomes, and that the portion of the expenditure referable to the tea income having been allowed under the Income-tax Act, the same allowance has to be given under the Madras Agricultural Income-tax Act. As "agricultural income", as defined…

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