M/S VEEKAY CONNECTORS PRIVATE LIMITED,ALLAHABAD vs. COMMISSIONER OF INCOME TAX (APPEALS), ALLAHABAD

PER SHRI VIJAY PAL RAO, JUDICIAL MEMBER:

1. BECAUSE the learned ACIT erred both on facts and in law in making an addition of Rs.25,75,000/- under the head income from other sources which the appellant derived from sale of trees planted during 1991 to 1997 and treated as agricultural income following the decision of the Hon’ble Supreme Court in the case of CIT v Raja Benoy Kumar Sahas Roy (1957) 32 ITR 466 (SC.) in which conditions laid down have been fulfilled for treating income derived from planted sale of trees as agricultural income.

2. BECAUSE irrespective of the quantum of assessment and the dispute raised it is contended that interest under section 234B is not leviable.

M/s Veekay Connectors Pvt. Ltd. 3. BECAUSE order of the learned ACIT is generally erroneous bad both on facts and in law and is against the principals of natural justice. 4. BECAUSE with regard to the grounds of appeal, the appellant begs to refer and rely upon the averments made in the accompanying Statement of Facts also that is being filed along-with the memo of appeal itself.”