https://www.taxtmi.com/caselaws?id=6217 Sale proceeds from teak trees cut and removed with their roots for conversion of land to rubber plantation were capital in nature, not agricultural income. Because the trees were uprooted completely, the source was exhausted and no recurring return from a productive asset remained. The fact that the trees had been planted with a profit-making intention did not change the character of the receipt into taxable income. The amount was therefore treated as realisation of part of the capital structure rather than a periodical income stream. en-us Tue, 05 May 1970 00:00:00 +0530 Thu, 26 Feb 2015 17:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6217 Sale proceeds from teak trees cut and removed with their roots for conversion of land to rubber plantation were capital in nature, not agricultural income. Because the trees were uprooted completely, the source was exhausted and no recurring return from a productive asset remained. The fact that the trees had been planted with a profit-making intention did not change the character of the receipt into taxable income. The amount was therefore treated as realisation of part of the capital structure rather than a periodical income stream. Case-Laws Income Tax Tue, 05 May 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6217