Bhupinder Dass vs Income Tax Officer on 8 December, 2010
(a) of the Act. According to the learned counsel, the said income was
exempt under Section 10(1) of the Act. He placed reliance on the
judgment of the Apex Court in Commissioner of Income Tax v. Raja
Benoy Kumar Sahas Roy [1957] 32 ITR 466 and that of Madras High
Court in Commissioner of Income-Tax v. Sun Paper Mills Ltd. [2002]
253 ITR 709. He further submitted that the rent which was received by
the assessee from the lessee was treated as "agricultural income" for
three years and it was thereafter that the re-assessment proceedings
ITA No. 147 of 2005 -5-
were initiated. The initiation of reassessment proceedings under
Section 147 of the Act were claimed to be vitiated and bad in law.