https://www.taxtmi.com/caselaws?id=192527 Forest sale receipts were not treated as agricultural income because the evidence showed only exploitation of forest trees and timber, not cultivation of the land or expenditure of skill and labour. Bankura forest receipts were held neither capital receipts nor agricultural income, and Kharagpur timber receipts were also held outside agricultural income on the same principle. Interest receipts from the Babuana and Dayana grantees were not rent or revenue derived from land and were likewise excluded from agricultural income. The claimed debt due from P.E. Guzadar & Co. was not allowable as a business loss under the earlier binding view applied to the case. en-us Tue, 04 May 1954 00:00:00 +0530 Sat, 03 Jun 2017 17:27:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192527 Forest sale receipts were not treated as agricultural income because the evidence showed only exploitation of forest trees and timber, not cultivation of the land or expenditure of skill and labour. Bankura forest receipts were held neither capital receipts nor agricultural income, and Kharagpur timber receipts were also held outside agricultural income on the same principle. Interest receipts from the Babuana and Dayana grantees were not rent or revenue derived from land and were likewise excluded from agricultural income. The claimed debt due from P.E. Guzadar & Co. was not allowable as a business loss under the earlier binding view applied to the case. Case-Laws Income Tax Tue, 04 May 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192527