https://www.taxtmi.com/highlights?id=23572 Revision u/s 263 - CIT himself accepted that gains on sale of Medchal land has to be assessed under the head "Long term capital gains". The gain is taxable at the rate of 20% only. Whether it is taxed in A.Y. 2007-08 or in later years, the tax rate is at 20% only. Thus, there is no prejudice caused to Revenue - AT en-us Tue, 30 Jun 2015 06:48:50 +0530 Tue, 30 Jun 2015 06:48:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=23572 Revision u/s 263 - CIT himself accepted that gains on sale of Medchal land has to be assessed under the head "Long term capital gains". The gain is taxable at the rate of 20% only. Whether it is taxed in A.Y. 2007-08 or in later years, the tax rate is at 20% only. Thus, there is no prejudice caused to Revenue - AT Highlights Income Tax Tue, 30 Jun 2015 06:48:50 +0530 https://www.taxtmi.com/highlights?id=23572