https://www.taxtmi.com/caselaws?id=169644 Sale proceeds from trees forming part of an acquired coffee estate were treated as capital receipt because the Tribunal had found that the assessee purchased the estate as a capital asset and there was no finding that the trees were separately acquired, spontaneously grown after purchase, or held as trading stock. On those facts, the trees formed part of the capital asset, and realisation from their sale was not income. The court answered the reference in favour of the assessee and held the amount assessable as capital, not revenue. en-us Wed, 12 Feb 1964 00:00:00 +0530 Tue, 28 Apr 2015 18:44:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169644 Sale proceeds from trees forming part of an acquired coffee estate were treated as capital receipt because the Tribunal had found that the assessee purchased the estate as a capital asset and there was no finding that the trees were separately acquired, spontaneously grown after purchase, or held as trading stock. On those facts, the trees formed part of the capital asset, and realisation from their sale was not income. The court answered the reference in favour of the assessee and held the amount assessable as capital, not revenue. Case-Laws Income Tax Wed, 12 Feb 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169644