https://www.taxtmi.com/caselaws?id=24195 Replanting subsidy received from the Rubber Board was treated as a capital receipt because the scheme was directed to replacing old, uneconomic rubber plantations and creating an enduring advantage through replantation, rather than supplementing trading income; it was therefore not taxable as revenue receipt. Capital gains tax was also held not exigible on the trees sold with the rubber estate, the issue having been covered by an earlier binding decision on identical facts. The references were answered against the Revenue, and the amounts in question were held not taxable in the manner contended. en-us Thu, 06 Apr 1989 00:00:00 +0530 Wed, 03 Dec 2025 18:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24195 Replanting subsidy received from the Rubber Board was treated as a capital receipt because the scheme was directed to replacing old, uneconomic rubber plantations and creating an enduring advantage through replantation, rather than supplementing trading income; it was therefore not taxable as revenue receipt. Capital gains tax was also held not exigible on the trees sold with the rubber estate, the issue having been covered by an earlier binding decision on identical facts. The references were answered against the Revenue, and the amounts in question were held not taxable in the manner contended. Case-Laws Income Tax Thu, 06 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24195