Supreme Court Dismisses Assessee's Appeal in Income Tax Case Regarding Taxation of Forest Tree Sale Proceeds. Proceeds from 'Clear Felling' of Spontaneous Growth Trees Leaving Stumps for Regeneration Held to be Revenue Receipt under the Income Tax Act, 1922.
24 Sep 1969The Supreme Court of India addressed the taxability of proceeds from the sale of forest trees under a 'clear felling' agreement. The assessee's father...
