https://www.taxtmi.com/caselaws?id=39162 The court ruled in favor of the assessee regarding the taxability of profit from the sale of trees, determining it as capital realization and not taxable income. However, the income from the gur business was not classified as agricultural income due to the nature of the conversion process. Specific amounts received were deemed taxable income, while claimed expenses were allowed as deductions. The ownership share in a factory was confirmed, but the claim for depreciation allowance on the interest acquired was denied. en-us Fri, 05 May 1972 00:00:00 +0530 Tue, 13 Apr 2010 13:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39162 The court ruled in favor of the assessee regarding the taxability of profit from the sale of trees, determining it as capital realization and not taxable income. However, the income from the gur business was not classified as agricultural income due to the nature of the conversion process. Specific amounts received were deemed taxable income, while claimed expenses were allowed as deductions. The ownership share in a factory was confirmed, but the claim for depreciation allowance on the interest acquired was denied. Case-Laws Income Tax Fri, 05 May 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39162