Stamp valuation increases after registration-fee payment led to deletion of property-purchase addition within tolerance and without valuation referral...
Capital Asset Conversion Requires Proven Business Stock Treatment; Paper Consideration in Spousal Flat Transfers Does Not Create Taxable Business Inco...
Human-probability test defeats political donation deduction where banking records mask accommodation-entry fund layering and evidence shows non-genuin...
Page of 4886
Press 'Enter' after typing page number.
441 to 460 of 97714 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
ITAT dismissed the Revenue's appeal and upheld the assessee's entitlement to exemption under s. 2(14)(iii) in relation to the sale of agricultural land. The Tribunal found the land was agricultural and outside the municipal area at the time of sale, and any subsequent conversion to non-agricultural use by the purchaser cannot defeat the assessee's claim. Reliance on the Land Revenue Code provision s. 63(AA) did not alter this outcome. Consequentially, the assessee is not liable for long-term capital gains on the transaction, and the assessment disallowing the exemption was annulled.
ITAT dismissed the Revenue's appeal and upheld the assessee's entitlement to exemption under s. 2(14)(iii) in relation to the sale of agricultural land. The Tribunal found the land was agricultural and outside the municipal area at the time of sale, and any subsequent conversion to non-agricultural use by the purchaser cannot defeat the assessee's claim. Reliance on the Land Revenue Code provision s. 63(AA) did not alter this outcome. Consequentially, the assessee is not liable for long-term capital gains on the transaction, and the assessment disallowing the exemption was annulled.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4886 
