https://www.taxtmi.com/caselaws?id=253722 Land sold in quick succession, with sale deeds recording conversion from agricultural to non-agricultural use, was treated as non-agricultural property; absent genuine agricultural activity, the surplus was held taxable rather than exempt under the agricultural land exclusion in Section 2(14)(iii) of the Income-tax Act. Separately, books of account were rejected under Section 145(3) because of non-genuine purchases, no proper stock register, and unverifiable opening and closing stock, and the resulting trading addition was sustained. The article notes that both findings were factual, supported by concurrent evidence, and not shown to be perverse, so no substantial question of law arose. en-us Fri, 14 Nov 2014 00:00:00 +0530 Thu, 14 May 2015 12:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253722 Land sold in quick succession, with sale deeds recording conversion from agricultural to non-agricultural use, was treated as non-agricultural property; absent genuine agricultural activity, the surplus was held taxable rather than exempt under the agricultural land exclusion in Section 2(14)(iii) of the Income-tax Act. Separately, books of account were rejected under Section 145(3) because of non-genuine purchases, no proper stock register, and unverifiable opening and closing stock, and the resulting trading addition was sustained. The article notes that both findings were factual, supported by concurrent evidence, and not shown to be perverse, so no substantial question of law arose. Case-Laws Income Tax Fri, 14 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253722