https://www.taxtmi.com/caselaws?id=258788 The Tribunal upheld the CIT(A)'s decision, ruling that the land sold qualified as agricultural land, exempting it from capital gains tax. Additionally, the disallowance of expenses amounting to Rs. 20,00,000 was overturned due to insufficient evidence and lack of specific reasons provided by the Assessing Officer. The Tribunal dismissed the Department's appeals and the assessees' cross objections, affirming the CIT(A)'s findings on both issues. en-us Mon, 23 Mar 2015 00:00:00 +0530 Mon, 20 Apr 2015 21:32:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258788 The Tribunal upheld the CIT(A)'s decision, ruling that the land sold qualified as agricultural land, exempting it from capital gains tax. Additionally, the disallowance of expenses amounting to Rs. 20,00,000 was overturned due to insufficient evidence and lack of specific reasons provided by the Assessing Officer. The Tribunal dismissed the Department's appeals and the assessees' cross objections, affirming the CIT(A)'s findings on both issues. Case-Laws Income Tax Mon, 23 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258788