Receipts from sale of spontaneous growth of trees - it is a ...

Spontaneously grown tree sales are capital receipts, not taxable. Section 55(2)(a) of Income Tax does not apply.

May 14, 2019

Case Laws Income Tax AT

Receipts from sale of spontaneous growth of trees - it is a capital receipt not liable to tax - The provisions of section 55(2)(a) cannot be applied to spontaneous growth of trees and is to be applied only to goodwill, trade mark, brand name, right to manufacture, produce or process any article or thing or right to carry on any business, tenancy rights, stage carriage permits or loom hours etc.

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Receipts from sale of spontaneous growth of trees - it is a ...

Spontaneously grown tree sales are capital receipts, not taxable. Section 55(2)(a) of Income Tax does not apply.

May 14, 2019

Case Laws Income Tax AT

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