https://www.taxtmi.com/caselaws?id=17682 The High Court upheld the Tribunal's findings in the case. Tea bushes were classified as capital assets, trees sold had no ascertainable cost of acquisition, and profit from timber sale was not taxable as capital gains. The computation of written down value and the non-applicability of section 40A(8) to current account balances were affirmed. The court's decisions were sent to the Tribunal for implementation. en-us Tue, 04 Mar 1997 00:00:00 +0530 Thu, 24 Sep 2009 11:32:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17682 The High Court upheld the Tribunal's findings in the case. Tea bushes were classified as capital assets, trees sold had no ascertainable cost of acquisition, and profit from timber sale was not taxable as capital gains. The computation of written down value and the non-applicability of section 40A(8) to current account balances were affirmed. The court's decisions were sent to the Tribunal for implementation. Case-Laws Income Tax Tue, 04 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17682