Saturday, May 30, 2020

Sale proceeds on sale of rubber trees and timber cannot be brought to tax under Rule 7A

INCOME TAX : Rule 7A talks about computation of income derived from sale of centrifuged latex or cenex or latex based crepes, etc; said rule does not talk about taxability of income from sale of old rubber trees - Thus, sale proceeds on sale of rubber trees and timber cannot be brought to tax under Rule 7A of I.T. Rules

from www.taxmann.com Latest Case Laws https://ift.tt/2TR56l5
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