https://www.taxtmi.com/caselaws?id=782873 The ITAT (Chennai) allowed the assessee's appeal, holding that income derived from the sale of cut/sized Silver Oak trees grown as shade trees in a tea estate constituted agricultural income, not taxable capital gains. Relying on binding precedent of the jurisdictional HC that such shade trees qualify as "agricultural produce," the Tribunal concluded that the proceeds from their sale fall within the ambit of "agricultural income" under the Income-tax Act. As the Revenue failed to distinguish or rebut the HC ruling, the assessment treating the receipts as capital gains was set aside. en-us Mon, 01 Dec 2025 00:00:00 +0530 Fri, 05 Dec 2025 08:12:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782873 The ITAT (Chennai) allowed the assessee's appeal, holding that income derived from the sale of cut/sized Silver Oak trees grown as shade trees in a tea estate constituted agricultural income, not taxable capital gains. Relying on binding precedent of the jurisdictional HC that such shade trees qualify as "agricultural produce," the Tribunal concluded that the proceeds from their sale fall within the ambit of "agricultural income" under the Income-tax Act. As the Revenue failed to distinguish or rebut the HC ruling, the assessment treating the receipts as capital gains was set aside. Case-Laws Income Tax Mon, 01 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782873