1998 PLP 347 (PTD)
M. RAMASWAMY Versus COMMISSIONER OF WEALTH TAX
| Citation | 1998 PLP 347 (PTD) |
| Forum / Court | 223 I T R 97 |
| Bench Members | K.A. Swami, CJ. and Raju, J |
| Parties | M. RAMASWAMY Versus COMMISSIONER OF WEALTH TAX |
| Primary Law | Wealth tax |
Q1: What are the key laws and sections cited in 1998 PLP 347 (PTD)?
This judgment primarily cites: Wealth tax as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 1998 PLP 347 (PTD)?
The case was heard and decided by the 223 I T R 97 bench comprising: K.A. Swami, CJ. and Raju, J.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 1998 PLP 347 (PTD) (M. RAMASWAMY Versus COMMISSIONER OF WEALTH TAX). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Headnotes / Summary
Growing crops
Coffee
Tea
Two leaves and bud of tea bushes and berries of coffee alone entitled to exemption
Entire coffee and tea bushes not entitled to exemption--Indian Wealth Tax Act, 1957. S.5(1)(viii-a). The entire coffee and tea bushes, apart from the two leaves and a bud of the tea bush and the berries of the coffee bush, do not fall within the expression "growing crops" for exemption under section 5(1)(viii-a) of the Wealth Tax Act, 1957. Rangaswamy (M.) v. CWT (1996) 221 ITR 39 (Mad.) fol. P.P.S. Janarthana Raja for Subbaraya Aiyar, Padmanabham and Ramamani for the Assessee. C. V. Rajan for the Commissioner
Judgment & Decree
RAJU, J.
The question of law which arises and which has been referred by the Income-tax Tribunal for the consideration of this Court is question No.2. The said question has been the subject-matter of our consideration and decision in Tax Cases Nos. 1463 and 1556 to 1560 of 1981, dated September 25, 1995 M. Rangaswamy v. CWT (1996) 221 ITR 39 (Mad). There is no dispute before us that the ratio of the said decision squarely applies and governs the question raised in the above tax case. Applying the ratio of the said decision to the facts and circumstances of the case before us and the question referred to this Court, we answer the question in the negative and against the assessee, but in favour of the Revenue and hold that the entire coffee and tea bushes, apart from the two leaves and a bud of the tea bush and the berries of the coffee bush, do not fall within the expression "growing crops" for exemption under section 5(l)(viii-a) of the Wealth Tax Act, 1957. No costs. A.A 198/FC Order accordingly.