https://www.taxtmi.com/caselaws?id=28023 The High Court upheld the Tribunal's decision that the receipts from clearing forest trees and selling timber logs constituted capital realization, emphasizing the intention of making the land fit for plantation purposes. The Court considered legal precedents and concluded that the receipts were rightly deemed capital in nature, even if the roots were left intact, as long as the primary objective was land preparation for cultivation. The Court ruled in favor of the assessee, ordering costs to be paid by the Revenue. en-us Tue, 08 Mar 1983 00:00:00 +0530 Wed, 17 Feb 2010 13:58:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28023 The High Court upheld the Tribunal's decision that the receipts from clearing forest trees and selling timber logs constituted capital realization, emphasizing the intention of making the land fit for plantation purposes. The Court considered legal precedents and concluded that the receipts were rightly deemed capital in nature, even if the roots were left intact, as long as the primary objective was land preparation for cultivation. The Court ruled in favor of the assessee, ordering costs to be paid by the Revenue. Case-Laws Income Tax Tue, 08 Mar 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28023