https://www.taxtmi.com/caselaws?id=28124 Sale proceeds from rosewood trees treated as fixed assets were assessable as capital gains, not business income. Felling, dressing and sizing the timber into logs did not change the character of the asset, because those steps merely facilitated transport and sale. The transaction was found to be an isolated sale of a capital asset and not part of any timber business carried on by the assessee. On that basis, the proceeds retained their capital nature and were brought to tax under the capital gains head. en-us Tue, 27 Mar 1984 00:00:00 +0530 Fri, 19 Feb 2010 11:43:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28124 Sale proceeds from rosewood trees treated as fixed assets were assessable as capital gains, not business income. Felling, dressing and sizing the timber into logs did not change the character of the asset, because those steps merely facilitated transport and sale. The transaction was found to be an isolated sale of a capital asset and not part of any timber business carried on by the assessee. On that basis, the proceeds retained their capital nature and were brought to tax under the capital gains head. Case-Laws Income Tax Tue, 27 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28124