CAN ANYONE TELL ME THAT, "SALE OF SANDAL WOOD TREE TO GOVERNMENT, AND RECEIVED AN AMOUNT OF Rs. 105000, IS THIS AMOUNT SHOULD TREATED AS AGRICULTURE INCOME OR TO BE CONSIDERED UNDER ANY OTHER HEADS OF INCOME?"
CONSIDER THE FOLLOWING POINTS ALSO
*TREE WAS NOT GROWN IN AGRICULTURE LAND.
*GROWTH OF TREE WAS NOT SPONTANEOUS
INCOME FROM SALE OF SANDAL WOOD TREE
Karthik (Practice - Advisory) (83 Points)
26 March 2011
CAclubindia
