https://www.taxtmi.com/caselaws?id=25016 Old and unyielding rubber trees were treated as a capital asset, and the sale proceeds from trees cut and sold by the assessee were regarded as chargeable to capital gains tax. Relying on binding precedent, the matter was considered settled and no debatable legal question was found to arise from the Tribunal's order. A reference under section 256(2) of the Income-tax Act, 1961 was therefore not warranted, and the request for reference was rejected. en-us Wed, 24 Jun 1987 00:00:00 +0530 Sat, 23 Jan 2010 17:47:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25016 Old and unyielding rubber trees were treated as a capital asset, and the sale proceeds from trees cut and sold by the assessee were regarded as chargeable to capital gains tax. Relying on binding precedent, the matter was considered settled and no debatable legal question was found to arise from the Tribunal's order. A reference under section 256(2) of the Income-tax Act, 1961 was therefore not warranted, and the request for reference was rejected. Case-Laws Income Tax Wed, 24 Jun 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25016