PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
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ITAT upheld the order of CIT(A)/NFAC sustaining taxability of long-term capital gains u/s 112 on sale of immovable properties by the assessee. The assessee had not disclosed the capital gains in the return filed u/s 139, claiming the lands were agricultural and thus not taxable as capital assets. CIT(A)/NFAC found no credible, authenticated evidence of agricultural use after purchase in 2008, and noted the substantial price appreciation by 2012 as inconsistent with claimed agricultural character. Finding no contrary material, ITAT dismissed the assessee's appeal and confirmed the assessment.
ITAT upheld the order of CIT(A)/NFAC sustaining taxability of long-term capital gains u/s 112 on sale of immovable properties by the assessee. The assessee had not disclosed the capital gains in the return filed u/s 139, claiming the lands were agricultural and thus not taxable as capital assets. CIT(A)/NFAC found no credible, authenticated evidence of agricultural use after purchase in 2008, and noted the substantial price appreciation by 2012 as inconsistent with claimed agricultural character. Finding no contrary material, ITAT dismissed the assessee's appeal and confirmed the assessment.
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