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 .) .
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