1987 (6) TMI 8

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Full Text of the Document

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....tioner is a company. For the assessment year 1978-79, it was assessed on an amount of Rs. 23,600 under the head " Capital gains " On the sale of rubber trees cut and sold by it. The plea of the assessee that the rubber trees are agricultural assets and cannot be considered as capital asset was negatived. The appeal filed before the Commissioner of Income-tax (Appeals) and the second appeal filed b....