THE COMMISSIONER OF INCOME TAX-1, KOCHI vs. M/S.COCHIN MALABAR ESTATES & INDUSTRIES LTD.

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI

Section 2(14) of the Act. The assessee used I.T.A. No.179/2014 -6- the schedule property as agricultural land/rubber plantation on the date of sale, and the schedule property is situated in a very remote area where there is no infrastructure facility. The Assessing Officer refers to one of the clauses of MoA dated 01.12.1995, which is to the effect that