https://www.taxtmi.com/caselaws?id=36107 Receipts from the sale of timber and charcoal from forest lands were treated as revenue receipts where the forest operations formed part of the assessee's organised business of exploiting forest wealth. The court distinguished cases involving mere realisation of a capital asset, holding that cutting trees with roots, or obtaining exemption from forest-preservation restrictions, did not change the character of the receipts. Because the cutting and sale were part of the normal profit-making structure and not a disposal of capital once and for all, the receipts were assessable as revenue and not as capital gains. en-us Thu, 08 Feb 1979 00:00:00 +0530 Fri, 19 Mar 2010 13:22:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36107 Receipts from the sale of timber and charcoal from forest lands were treated as revenue receipts where the forest operations formed part of the assessee's organised business of exploiting forest wealth. The court distinguished cases involving mere realisation of a capital asset, holding that cutting trees with roots, or obtaining exemption from forest-preservation restrictions, did not change the character of the receipts. Because the cutting and sale were part of the normal profit-making structure and not a disposal of capital once and for all, the receipts were assessable as revenue and not as capital gains. Case-Laws Income Tax Thu, 08 Feb 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36107