It's not true at all lol, that's not how trees or carbon work.

Trees don't passively remove carbon dioxide from the air. Trees remove carbon dioxide by growing and turning that carbon into bark, stems, leaves, etc. And they release carbon when they burn or decompose.

Planting a tree sucks up exactly as much carbon as is the size of that tree, and no more once it stops growing. Replacing it with a baby tree will suck up way more carbon, and if we turn it into chairs instead of burning it then those tons of carbon are gone from the atmosphere for the foreseeable future.