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1970 (10) TMI 2 - HC - Income TaxAssessee is a limited liability company doing rubber plantation business; and the assessee took on lease forest land - it gave contracts to truck and remove trees for clearing the area for planting rubber - whether the amounts representing the sale proceeds of timber cut and removed with roots constitute revenue receipts in the hands of the assessee and are taxable as such under the Income-tax Act, 1961
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