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2009 (4) TMI 483 - HC - Income TaxScrutiny - Capital gain or agricultural income - assessment on capital gains on the sale of shade trees, directed the Assessing Officer to adopt the gross capital gain at 30 per cent. of the sale price - issue involved in this appeal is covered against the assessee and in favour of the Revenue by the decision of the Income-tax Appellate Tribunal, Chennai Bench D in the case of ITO v. Late C. Seshagiri Rao, by l/r Sri S.Sridhar, Mettur Sandalwood Oil Co., Mettur Dam for the assessment year 1974-75 in I. T. A. No. 2320/Mds/1996 decided on May 23, 2002 - Decided in favour of the Revenue
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