Case Law Details
CIT Vs Shri. Shaji thomas (Kerala High Court)
Assessing Officer had accepted the fact that 97.60 Ares of land sold by the assessee is agricultural land. In fact, the said finding was also on proof of specific agricultural operations having been undertaken in the said The adjacent land which is lying as Kayal land and water-logged, would only have made the adjacent land more fertile and admittedly it was not used for any other purpose. The adjacent land remaining as water-logged and comprised within the backwaters, sold along with the agricultural land, could be deemed to be only agricultural land.
FULL TEXT OF THE HIGH COURT ORDER / JUDGMENT
The Revenue is in appeal from the order of the Tribunal, on the following questions of law:
1. Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in equating “water-logged area” with “backwaters” and is not the above approach and the conclusion perverse and wrong?
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