Appeal admitted challenging denial of tax exemption on capital gains. Questions raised on ITAT's decision.

The High Court of Rajasthan admitted the appeal challenging the denial of exemption under section 10(37) of the Income Tax Act and the inclusion of capital gains. The court raised questions on the ITAT's decision to overturn the CIT(A) and AO's findings. Notice was issued to the respondent for further proceedings.

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The High Court of Rajasthan admitted the appeal based on substantial questions of law regarding the denial of exemption under section 10(37) of the Income Tax Act and the consideration of Khasra Girdavari reports in the assessment order. The court questioned the justification of the ITAT in reversing the findings of the CIT(A) and the AO's denial of exemption and addition of capital gains. Notice was issued to the respondent.

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