Law:

Section:

-Section 2(1)(a) - Mysore Agricultural Income-tax Act, 1957 CASES REFERRED TO State of Kerala v. Karimtharuvi Tea Estate Ltd. [1964] 51 ITR 129 , Commissioner of Agricultural Income-tax v. Kailas Rubber & Co. Ltd. [1966] 60 ITR 435 (SC) and Commissioner of Income-tax v. Raja Benoy Kumar Sahas Roy [1957] 32 ITR 466 (SC) JUDGMENT Govinda Bhat, J.-These are three revision petitions preferred by an assessee under section 55 of the Mysore Agricultural Income-tax Act, 1957, hereinafter called the "Act" against the common order dated January 30, 1967, made by the Commissioner of Agricultural Income-tax, Bangalore, by which, in exercise of his suo motu powers of revision, he set aside the orders of the Deputy Commissioner of Agricultural Income-tax and restored the assessment orders of the Agricultural Income-tax Officer, Coorg. 2. The assessee is the Consolidated Coffee Ltd., formerly known as the "Consolidated Coffee Estates (1943) Ltd." having its registered office at Polli betta, Coorg. The assessee owns 10,610 acres of land of which 7,277 acres are under coffee, 277 acres under cardamom, 689 acres under paddy, etc., and 2,367 acres are abandoned coffee areas and now a jungle. The assessee-company was formed in the year 1943. After the formation of the company, the assessee bought several coffee estates and consolidated them. During the relevant accounting period in respect of the assessment years 1961-62, 1962-63 and 1963-64, the assessee sold from its lands rosewood trees. The proceeds of sale of the said rosewood trees after deduction of expenditure was claimed to be not assessable to tax under the Act. The assessee in its return to the Income-tax Officer under the Central Income-tax Act claimed that the said amounts are not taxable on the ground that they constitute capital and not income. The Income-tax Officer, Coorg Circle, Mercara, rejected the contention of the assessee and assessed the amount to tax. Before the Agricultural Income-tax Officer, the assessee contended that the said amount had been assessed under the Central Income-tax Act and hence could not be assessed under the Act and, further, that the receipts are capital and as such not taxable as…

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