https://www.taxtmi.com/caselaws?id=26176 The High Court upheld the decision of the Agricultural Income-tax Appellate Tribunal, ruling that the turnover from the sale of albezia trees should be treated as revenue receipts rather than capital receipts. The Court determined that the intention behind planting the trees was not solely for providing shade to tea plants but also for raising and selling them for making catamarans, indicating a revenue-generating purpose. As the trees were maintained for regular income through cutting and selling, the proceeds were deemed taxable as revenue receipts, aligning with the principle that governs such cases. en-us Wed, 15 Feb 1984 00:00:00 +0530 Wed, 03 Feb 2010 13:02:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26176 The High Court upheld the decision of the Agricultural Income-tax Appellate Tribunal, ruling that the turnover from the sale of albezia trees should be treated as revenue receipts rather than capital receipts. The Court determined that the intention behind planting the trees was not solely for providing shade to tea plants but also for raising and selling them for making catamarans, indicating a revenue-generating purpose. As the trees were maintained for regular income through cutting and selling, the proceeds were deemed taxable as revenue receipts, aligning with the principle that governs such cases. Case-Laws Income Tax Wed, 15 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26176