Is sale of Timber agricultural income???????
Athmaram
(Articled Assistant)
(170 Points)
Replied 18 March 2011
The income from trees that have been cut and sold as timber is not considered agricultural income since there is no active involvement in operations like cultivation and soil treatment.
Regards
Ram.
SUMIT
(article)
(55 Points)
Replied 18 March 2011
My dear friend,
I have referring a case of CIT v. Ramakrishna Deo {1959} on Page 4.9 of Master guide to Income Tax act 2010,
WHERE NO BASIC OPERATIONS ARE INVOLVED, INCOME IS NOT AGRICULRUAL
Srihari Manipatruni
(student)
(147 Points)
Replied 19 March 2011
WHERE NO BASIC OPERATIONS ARE INVOLVED, INCOME IS NOT AGRICULRUAL..........
SIDHARTH DHIR
(senior articled assistant)
(623 Points)
Replied 19 March 2011
IF THERE HAS BEEN SOWING
TILLING
THRESHING OF SOIL, IT IS AGRICULTURAL INCOME.
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