1964 (2) TMI 85

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..... judgment of the court was delivered by HEGDE J.--This is a reference under section 66(1) of the Indian Income-tax Act, 1922. The question of law referred is: "Whether, on the facts and circumstances of the case, the sum of ₹ 5,872 is a capital or a revenue receipt?" The Income-tax Officer and the Appellate Commissioner came to the conclusion that the same is "income", .....

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..... that coffee estate consisted of trees. These trees were sold." It is not the finding of the Tribunal that the trees sold had spontaneously grown after the purchase was made; nor is there any finding that the trees sold were immature on the date of the purchase and that they became mature on the date of sale. From the finding of the Tribunal it is seen that the very trees purchased as part o .....

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