https://www.taxtmi.com/caselaws?id=277434 Income is agricultural only if its immediate and effective source is land; sale proceeds from forest trees growing naturally on land assessed to revenue were held not to satisfy that test. Malikana fixed by historical settlement and payable of cultivation or profits was treated as arising from the settlement obligation, not from land, and was therefore not agricultural income. By contrast, the annual receipt of Rs. 1,07,000 under the liquidation scheme was accepted on the lease as rent and treated as agricultural income, with no part separately carved out as interest, damages, or compensation. The source of each receipt, rather than its remote origin, was decisive. en-us Fri, 29 Sep 1944 00:00:00 +0630 Tue, 04 Dec 2018 11:32:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277434 Income is agricultural only if its immediate and effective source is land; sale proceeds from forest trees growing naturally on land assessed to revenue were held not to satisfy that test. Malikana fixed by historical settlement and payable of cultivation or profits was treated as arising from the settlement obligation, not from land, and was therefore not agricultural income. By contrast, the annual receipt of Rs. 1,07,000 under the liquidation scheme was accepted on the lease as rent and treated as agricultural income, with no part separately carved out as interest, damages, or compensation. The source of each receipt, rather than its remote origin, was decisive. Case-Laws Income Tax Fri, 29 Sep 1944 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=277434