https://www.taxtmi.com/caselaws?id=19108 The note addresses (1) whether proceeds from sale of trees from a thope constitute agricultural income and (2) whether bank interest is deductible as expenditure laid out wholly and exclusively for the purpose of the land. It states the legal principle that proceeds from trees that are spontaneously grown or planted for shade are capital/non agricultural in character and therefore not agricultural income, resulting in deletion of the addition of Rs. 65,000. Claims for interest deduction require specific particulars and factual proof of expenditure wholly and exclusively for the land; the question of allowable interest is remitted to the Assessing Officer for determination. en-us Tue, 25 Oct 1994 00:00:00 +0530 Wed, 04 Nov 2009 11:25:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19108 The note addresses (1) whether proceeds from sale of trees from a thope constitute agricultural income and (2) whether bank interest is deductible as expenditure laid out wholly and exclusively for the purpose of the land. It states the legal principle that proceeds from trees that are spontaneously grown or planted for shade are capital/non agricultural in character and therefore not agricultural income, resulting in deletion of the addition of Rs. 65,000. Claims for interest deduction require specific particulars and factual proof of expenditure wholly and exclusively for the land; the question of allowable interest is remitted to the Assessing Officer for determination. Case-Laws Income Tax Tue, 25 Oct 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19108