Sec.44AC-Bamboo to fall under the category of 'Timber'. - Income Tax - 5151/1993

INSTRUCTION NO. 5151/1993 Dated: January 18, 1993 Section(s) Referred: 44AC ,206C Statute: Income - Tax Act, 1961 Please refer to the correspondence resting with your D.O. letter No. CCIT/MP/Tech/J.146/90-91/4160 dated 20-11-92 on the subject mentioned above. 2. The matter has been re-examined by the Board and it is hereby clarified that "BAMBOO" would fall under the category of "TIMBER" and not in the category of "any other forest produce" for the purpose of section 44AC. Accordingly, the Board's letter No. 202/5/92-ITA.II dated 20-6-92 is withdrawn. F.No. 207/22/91-ITA.II