1964 (6) TMI 2 - HC - Income Tax

Sale proceeds of dead and windfallen avenue trees cut and removed from the estate - taxability - Such receipts must be of a capital nature

Summary

The High Court of Kerala ruled that the amount of Rs. 68,000 from the sale of dead and windfallen trees is of capital nature, not taxable income. The judgment was in favor of the assessee. The Registrar will send a copy of the judgment to the Income-tax Appellate Tribunal as required by law.