https://www.taxtmi.com/caselaws?id=257072 The tribunal partly allowed the appeals of the assessee, concluding that the land converted into residential plots could not be considered agricultural land. Regarding the taxation of capital gains on land conversion, the tribunal referred the matter back to the assessing officer to determine the appropriate years for capital gain taxation. In the case of disallowance under Section 14A, the tribunal instructed a reexamination by the assessing officer to verify the availability of liquid funds for investments. The departmental appeal was allowed for statistical purposes, with further review of the disallowance under Section 14A. en-us Fri, 06 Feb 2015 00:00:00 +0530 Mon, 02 Mar 2015 08:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257072 The tribunal partly allowed the appeals of the assessee, concluding that the land converted into residential plots could not be considered agricultural land. Regarding the taxation of capital gains on land conversion, the tribunal referred the matter back to the assessing officer to determine the appropriate years for capital gain taxation. In the case of disallowance under Section 14A, the tribunal instructed a reexamination by the assessing officer to verify the availability of liquid funds for investments. The departmental appeal was allowed for statistical purposes, with further review of the disallowance under Section 14A. Case-Laws Income Tax Fri, 06 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257072