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2014 (9) TMI 792 - HC - Income TaxIncome from sale of trees to be treated as income from business or not – Held that:- The Tribunal was rightly of the view that the assessee was not felling trees for the sale of wood to any outsider for generating income and the fact that the cut trees are used for own consumption is admitted by the Revenue - the wood cut from the tree is used by the company as fire-wood - the cutting of trees, leaving the stump as required by the condition imposed by the forest department is not for generating income out of the trees, but for felling of the wood for own consumption – relying upon CIT Vs Ambat Echukutty Menon [1979 (9) TMI 2 - SUPREME Court] it is not a case of business income – the order of the Tribunal is upheld – Decided against revenue.
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