https://www.taxtmi.com/caselaws?id=238472 The Tribunal ruled that the income from the sale of agricultural land should be treated as agricultural income and exempt from tax. It found that the land was classified as agricultural in revenue records, used for agricultural activities, and sold without conversion for non-agricultural purposes. The Tribunal held that the Assessing Officer and CIT(A) were wrong in treating the income as business income and in categorizing agricultural income as income from other sources. Consequently, the appeal was allowed in favor of the assessee. en-us Fri, 27 Sep 2013 00:00:00 +0530 Tue, 22 Oct 2013 08:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238472 The Tribunal ruled that the income from the sale of agricultural land should be treated as agricultural income and exempt from tax. It found that the land was classified as agricultural in revenue records, used for agricultural activities, and sold without conversion for non-agricultural purposes. The Tribunal held that the Assessing Officer and CIT(A) were wrong in treating the income as business income and in categorizing agricultural income as income from other sources. Consequently, the appeal was allowed in favor of the assessee. Case-Laws Income Tax Fri, 27 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238472