1. The challenge in this writ petition is whether the receipts by the assessee derived from latex in slaughter tapping and yield of coconut will come under Agricultural Income Tax Act, 1991 and as such assessee exempt from the Income Tax Act, 1961?.

2. This writ petition is filed under Article 226 of the Constitution of India by the petitioner challenging the assessment order of the year 2002-2003 for slaughter tapping and yield from coconut and consequent imposition of interest by the Assistant Commissioner of the Income Tax Circle I, Kottayam. The petitioner, being a limited company engaged in the business of growing and selling rubber produce and other agricultural product in its estates in Kerala and Tamil Nadu State, is an assessee under the Kerala Agricultural Income-tax Act, 1991 (hereinafter referred to as the (KAIT Act) and under Tamil Nadu Agricultural Income Tax Act, 1955 (hereinafter referred to as the 'TNAIT Act'). The company has also income from dividends and interest which were taxable under the Income Tax Act, 1961 and in respect of such income the company is an assessee under the Income Tax Act, 1961. It is contended that as per Ext.P11 assessment order