https://www.taxtmi.com/caselaws?id=17168 The Court ruled in favor of the assessee, determining that the sale proceeds from the dead and flowered bamboos were capital receipts and not subject to taxation as revenue. The Court found that the one-time removal of these bamboos was akin to the sale of trees affecting the capital structure, distinguishing it from the periodic cutting of live bamboos. The decision was based on the interpretation of the Income-tax Act and supported by a Supreme Court precedent, ultimately concluding that the sale proceeds were of a capital nature and not taxable as revenue. en-us Thu, 07 Mar 1996 00:00:00 +0530 Tue, 15 Sep 2009 15:28:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17168 The Court ruled in favor of the assessee, determining that the sale proceeds from the dead and flowered bamboos were capital receipts and not subject to taxation as revenue. The Court found that the one-time removal of these bamboos was akin to the sale of trees affecting the capital structure, distinguishing it from the periodic cutting of live bamboos. The decision was based on the interpretation of the Income-tax Act and supported by a Supreme Court precedent, ultimately concluding that the sale proceeds were of a capital nature and not taxable as revenue. Case-Laws Income Tax Thu, 07 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17168