https://www.taxtmi.com/caselaws?id=21323 Sale proceeds from old and uneconomic trees were treated as capital receipts, because the plantations had been cleared for replanting, no latex was available for extraction, and the receipts represented the value of the trees sold rather than agricultural income. On that factual basis, the court distinguished the earlier remand decision as involving a different record and held that no further inquiry by the assessing authority was necessary. The request for remand was rejected and the receipts were held not liable to agricultural income-tax. en-us Tue, 17 Sep 1991 00:00:00 +0530 Sat, 21 Nov 2009 15:48:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21323 Sale proceeds from old and uneconomic trees were treated as capital receipts, because the plantations had been cleared for replanting, no latex was available for extraction, and the receipts represented the value of the trees sold rather than agricultural income. On that factual basis, the court distinguished the earlier remand decision as involving a different record and held that no further inquiry by the assessing authority was necessary. The request for remand was rejected and the receipts were held not liable to agricultural income-tax. Case-Laws Income Tax Tue, 17 Sep 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21323