Capital gains
This query is : Resolved
24 December 2013
is capital gain is attracted on sale of popular trees?
24 December 2013
Sale proceeds of trees of spontaneous growth
will not result in capital gains - Trees of
spontaneous growth are such trees which are
not sown . They grow naturally. If that be so ,
then the sale proceeds of such a tree will not
bring in any profit or gain and as such will not
be taxable as capital gains - CIT v . Suman Tea
& Plywood Industries ( P .) Ltd . [1997 ] 226 ITR
34/94 Taxman 305 ( Cal .) .
will not result in capital gains - Trees of
spontaneous growth are such trees which are
not sown . They grow naturally. If that be so ,
then the sale proceeds of such a tree will not
bring in any profit or gain and as such will not
be taxable as capital gains - CIT v . Suman Tea
& Plywood Industries ( P .) Ltd . [1997 ] 226 ITR
34/94 Taxman 305 ( Cal .) .
25 December 2013
pls elaborate your query little bit more for proper clarification...
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