https://www.taxtmi.com/caselaws?id=242167 The Tribunal dismissed all Miscellaneous Applications (M.As.) regarding rectification of errors in capital gains computation and land classification for tax purposes. It upheld its orders directing consideration of all relevant aspects for determining taxable capital gains and exemptions based on land classification, emphasizing the need for genuine agricultural land classification and distance from a municipality. The Tribunal clarified that only patent mistakes can be rectified under sec 254(2) and remanded the land classification issue to the AO for further examination. en-us Fri, 01 Feb 2013 00:00:00 +0530 Thu, 09 Jan 2014 09:44:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242167 The Tribunal dismissed all Miscellaneous Applications (M.As.) regarding rectification of errors in capital gains computation and land classification for tax purposes. It upheld its orders directing consideration of all relevant aspects for determining taxable capital gains and exemptions based on land classification, emphasizing the need for genuine agricultural land classification and distance from a municipality. The Tribunal clarified that only patent mistakes can be rectified under sec 254(2) and remanded the land classification issue to the AO for further examination. Case-Laws Income Tax Fri, 01 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242167