https://www.taxtmi.com/caselaws?id=237127 The tribunal allowed the appeals related to assessment years 2002-03 to 2004-05 and 2006-07, partly allowing the appeals for the assessment year 2008-09 for statistical purposes. The tribunal directed the assessing officer to re-examine specific issues, particularly the purchase of agricultural lands under Section 54B, and provide a fresh decision based on verification. The tribunal accepted the agricultural income declared by the assessee, treated the land as a capital asset for long-term capital gains, and required actual purchase of land for relief under Section 54B. Interest under Sections 234B and 234C was upheld as mandatory. en-us Mon, 16 Jan 2012 00:00:00 +0530 Thu, 19 Sep 2013 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237127 The tribunal allowed the appeals related to assessment years 2002-03 to 2004-05 and 2006-07, partly allowing the appeals for the assessment year 2008-09 for statistical purposes. The tribunal directed the assessing officer to re-examine specific issues, particularly the purchase of agricultural lands under Section 54B, and provide a fresh decision based on verification. The tribunal accepted the agricultural income declared by the assessee, treated the land as a capital asset for long-term capital gains, and required actual purchase of land for relief under Section 54B. Interest under Sections 234B and 234C was upheld as mandatory. Case-Laws Income Tax Mon, 16 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237127