https://www.taxtmi.com/caselaws?id=22711 For capital gains on a rubber estate, the valuation of rubber trees had to follow the court's earlier precedent on the same subject; the Tribunal's method was accepted only to the extent permitted by that ruling, so the valuation issue was decided against the assessee. On taxability, the court applied the binding decision on rubber trees as capital assets and held that capital gains could not be levied as contended by the Revenue, so this issue was decided in favour of the assessee. The reference was therefore answered partly for the Revenue and partly for the assessee. en-us Thu, 12 Feb 1987 00:00:00 +0530 Sat, 12 Dec 2009 14:22:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22711 For capital gains on a rubber estate, the valuation of rubber trees had to follow the court's earlier precedent on the same subject; the Tribunal's method was accepted only to the extent permitted by that ruling, so the valuation issue was decided against the assessee. On taxability, the court applied the binding decision on rubber trees as capital assets and held that capital gains could not be levied as contended by the Revenue, so this issue was decided in favour of the assessee. The reference was therefore answered partly for the Revenue and partly for the assessee. Case-Laws Income Tax Thu, 12 Feb 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22711