Capital gains on sale of trees
This query is : Resolved
25 August 2012
I have planted Mahagony trees in my coffee plantation as shade trees and took proper care of them for 12 years and sold the same. I have treated the sale proceeds as agricultural income ? Is this Correct?
25 August 2012
Correct in view of supreme court decision in Raja Benoy Kumar Sahas Roy 's case reported in 32 ITR 466.
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