1991 (9) TMI 19

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....cultural Income-tax Appellate Tribunal, dated May 7, 1981. The controversy in the revision is limited to the sale proceeds amounting to Rs. 4,46,795. According to the assessee-respondents, the sale proceeds are in the nature of capital receipts derived from the sale of old and uneconomic trees. On behalf of the Revenue what was contended before the authorities below, including the Tribunal, was th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....d counsel appearing for the Revenue has drawn our attention to the judgment of a Division Bench in Kanthimathi Plantation Ltd. v. State of Tamil Nadu by the Agricultural Income-tax Officer (T. C. Nos. 392 and 393 of 1982 and 1692 of 1981, decided on January 4, 1984), where the same agreement was involved between the assessee and Union Traders and this court upheld the order of the Commissioner rem....