https://www.taxtmi.com/caselaws?id=22880 A replanting subsidy under the Rubber Board scheme was treated as a capital receipt rather than agricultural income because it was not derived from land in the statutory sense, and the Revenue's reliance on a different Supreme Court context was distinguished. Expenditure on ammonia gas used for latex conservation was also held to be allowable in full, since the accounts were accepted and a deduction otherwise within the agricultural expenditure provision could not be cut down merely because it appeared high compared with the year's income. The revision cases thus succeeded for the assessee on both issues, with the subsidy excluded from taxable income and the full admissible expenditure allowed. en-us Thu, 23 Aug 1990 00:00:00 +0530 Tue, 15 Dec 2009 11:14:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22880 A replanting subsidy under the Rubber Board scheme was treated as a capital receipt rather than agricultural income because it was not derived from land in the statutory sense, and the Revenue's reliance on a different Supreme Court context was distinguished. Expenditure on ammonia gas used for latex conservation was also held to be allowable in full, since the accounts were accepted and a deduction otherwise within the agricultural expenditure provision could not be cut down merely because it appeared high compared with the year's income. The revision cases thus succeeded for the assessee on both issues, with the subsidy excluded from taxable income and the full admissible expenditure allowed. Case-Laws Income Tax Thu, 23 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22880