https://www.taxtmi.com/caselaws?id=169114 The Tribunal upheld the classification of 30 percent of the sale proceeds of mahogany trees as capital gain, rejecting the claim of the assessee for agricultural income. The Revenue's appeal against the order of the Commissioner of Income-tax (Appeals) was dismissed, affirming the treatment of the sale proceeds as capital gain due to the absence of cost of acquisition or improvement on the asset, as per legal precedents. en-us Fri, 14 Mar 2014 00:00:00 +0530 Mon, 06 Apr 2015 21:40:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169114 The Tribunal upheld the classification of 30 percent of the sale proceeds of mahogany trees as capital gain, rejecting the claim of the assessee for agricultural income. The Revenue's appeal against the order of the Commissioner of Income-tax (Appeals) was dismissed, affirming the treatment of the sale proceeds as capital gain due to the absence of cost of acquisition or improvement on the asset, as per legal precedents. Case-Laws Income Tax Fri, 14 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169114