Supreme Court of India · 1965-10-07
STATE OF KERALA AND OTHERS vs BHAVANI TEA PRODUCE CO. LTD.
- Citation / case number
- SC 1964/90375
- Court
- Supreme Court of India
- Petitioner
- STATE OF KERALA AND OTHERS
- Respondent
- BHAVANI TEA PRODUCE CO. LTD.
- Author
- GAJENDRAGADKAR, P.B. (),WANCHOO, K.N.,HIDAYATULLAH, M.,SHAHC.,SIKRI, S.M.
- Bench
- GAJENDRAGADKAR, P.B. (CJ),WANCHOO, K.N.,HIDAYATULLAH, M.,SHAH, J.C.,SIKRI, S.M.
Judgment text excerpt
The Supreme Court held that under Section 3 of the Madras Plantations Agricultural Income-tax Act, 1955, income is assessed based on the previous year's income. The Court ruled that the income from coffee sales to the Coffee Board is taxable in the year the sale is recorded in the accounts, not when the payment is received. The Court affirmed the lower courts' decisions that upheld the inclusion of income from sales made before April 1, 1954, in the assessments for the years 1955-56 and 1956-57.