https://www.taxtmi.com/caselaws?id=242012 The ITAT Cochin ruled in favor of the assessee, holding that the sale value of old rubber trees should be treated as capital receipts and not taxable income under Rule 7A of the Income Tax Rules. The assessing officer's decision to assess 35% of the sale value as taxable income was overturned, and the ITAT directed the exclusion of the sale value of rubber trees from the income computation, allowing all appeals filed by the assessee. en-us Fri, 03 Jan 2014 00:00:00 +0530 Wed, 16 Mar 2016 15:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242012 The ITAT Cochin ruled in favor of the assessee, holding that the sale value of old rubber trees should be treated as capital receipts and not taxable income under Rule 7A of the Income Tax Rules. The assessing officer's decision to assess 35% of the sale value as taxable income was overturned, and the ITAT directed the exclusion of the sale value of rubber trees from the income computation, allowing all appeals filed by the assessee. Case-Laws Income Tax Fri, 03 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242012