https://www.taxtmi.com/caselaws?id=252185 The Tribunal upheld that capital gains from a development agreement arose in A.Y. 2005-06, rejecting the assessee's claim that they arose in A.Y. 2007-08. The eligibility for exemption under section 54F for A.Y. 2007-08 was denied due to the determination of capital gains in A.Y. 2005-06. The land sold was deemed agricultural and exempt from capital gains tax for A.Y. 2007-08. The Tribunal partly allowed appeals for A.Y. 2005-06, dismissed appeals for A.Y. 2007-08, and dismissed the Revenue's appeal for A.Y. 2007-08. en-us Fri, 12 Sep 2014 00:00:00 +0530 Tue, 14 Oct 2014 07:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252185 The Tribunal upheld that capital gains from a development agreement arose in A.Y. 2005-06, rejecting the assessee's claim that they arose in A.Y. 2007-08. The eligibility for exemption under section 54F for A.Y. 2007-08 was denied due to the determination of capital gains in A.Y. 2005-06. The land sold was deemed agricultural and exempt from capital gains tax for A.Y. 2007-08. The Tribunal partly allowed appeals for A.Y. 2005-06, dismissed appeals for A.Y. 2007-08, and dismissed the Revenue's appeal for A.Y. 2007-08. Case-Laws Income Tax Fri, 12 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252185