https://www.taxtmi.com/caselaws?id=23724 Rubber replantation subsidy was held not to be taxable income, so the addition made on that account could not stand. The decision applied the prevailing Full Bench view that such subsidy is a non-taxable receipt rather than revenue income. The sale of agricultural land together with standing rubber trees was treated as one composite transaction, and the trees were regarded as an integral part of the land. On that basis, capital gains could not be separately levied by bifurcating the value of the trees from the land. en-us Wed, 27 Sep 1989 00:00:00 +0530 Wed, 23 Dec 2009 18:47:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23724 Rubber replantation subsidy was held not to be taxable income, so the addition made on that account could not stand. The decision applied the prevailing Full Bench view that such subsidy is a non-taxable receipt rather than revenue income. The sale of agricultural land together with standing rubber trees was treated as one composite transaction, and the trees were regarded as an integral part of the land. On that basis, capital gains could not be separately levied by bifurcating the value of the trees from the land. Case-Laws Income Tax Wed, 27 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23724