https://www.taxtmi.com/caselaws?id=289897 Section 34 reassessment requires definite information showing that income escaped assessment; material already available to the Income-tax Officer at the original assessment cannot ordinarily constitute fresh information, and the Department must establish that the relevant entries were not previously known. Timber-sale receipts qualify as agricultural income only where human agricultural operations on land produced or cultivated the trees. Trees of spontaneous growth do not meet that test. Proceeds from a structured timber-cutting and sale activity are also not casual income merely because the transaction is isolated or limited in duration, where the severed trees constitute stock-in-trade and receipts arise from their disposal. en-us Mon, 25 Mar 1957 00:00:00 +0530 Fri, 28 Aug 2020 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289897 Section 34 reassessment requires definite information showing that income escaped assessment; material already available to the Income-tax Officer at the original assessment cannot ordinarily constitute fresh information, and the Department must establish that the relevant entries were not previously known. Timber-sale receipts qualify as agricultural income only where human agricultural operations on land produced or cultivated the trees. Trees of spontaneous growth do not meet that test. Proceeds from a structured timber-cutting and sale activity are also not casual income merely because the transaction is isolated or limited in duration, where the severed trees constitute stock-in-trade and receipts arise from their disposal. Case-Laws Income Tax Mon, 25 Mar 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289897