https://www.taxtmi.com/caselaws?id=275965 Receipts from the sale of timber cut and removed from forest land were treated as income liable to tax. The Court held that no relevant distinction existed between such receipts and proceeds from the sale of other produce, except where a specific statutory exemption applies, as in the case of agricultural income. In the absence of any exemption covering timber receipts, the amounts realised from the sale of timber trees were not treated as capital accretions but as taxable income. en-us Fri, 11 Apr 1930 00:00:00 +0530 Wed, 24 Oct 2018 10:14:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275965 Receipts from the sale of timber cut and removed from forest land were treated as income liable to tax. The Court held that no relevant distinction existed between such receipts and proceeds from the sale of other produce, except where a specific statutory exemption applies, as in the case of agricultural income. In the absence of any exemption covering timber receipts, the amounts realised from the sale of timber trees were not treated as capital accretions but as taxable income. Case-Laws Income Tax Fri, 11 Apr 1930 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275965