https://www.taxtmi.com/caselaws?id=8439 Trees planted exclusively as shade trees for rubber plants were treated as part of the plantation's capital structure, not as assets held for periodic exploitation by sale. When the trees were later cut after becoming useless, the sale proceeds were characterised as capital receipts rather than agricultural income. The legal principle applied was that a receipt does not become taxable as agricultural income merely because it arises from plantation activity or land use. On that basis, the sale value of the shade trees was held not includible as agricultural income, and the issue was answered in favour of the assessee. en-us Tue, 04 Apr 1972 00:00:00 +0530 Wed, 15 Apr 2009 11:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8439 Trees planted exclusively as shade trees for rubber plants were treated as part of the plantation's capital structure, not as assets held for periodic exploitation by sale. When the trees were later cut after becoming useless, the sale proceeds were characterised as capital receipts rather than agricultural income. The legal principle applied was that a receipt does not become taxable as agricultural income merely because it arises from plantation activity or land use. On that basis, the sale value of the shade trees was held not includible as agricultural income, and the issue was answered in favour of the assessee. Case-Laws Income Tax Tue, 04 Apr 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8439