https://www.taxtmi.com/caselaws?id=261239 The Tribunal ruled in favor of the assessees, determining that the land sold was agricultural and not a capital asset, leading to the deletion of additions for long-term capital gains and removal of penalties under Section 271(1)(c) of the Income Tax Act, 1961. The delay in filing appeals was condoned by the Tribunal to prevent a miscarriage of justice, citing principles of substantial justice and legal precedents supporting a liberal interpretation of "sufficient cause" for delays. en-us Fri, 01 May 2015 00:00:00 +0530 Mon, 06 Jul 2015 12:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261239 The Tribunal ruled in favor of the assessees, determining that the land sold was agricultural and not a capital asset, leading to the deletion of additions for long-term capital gains and removal of penalties under Section 271(1)(c) of the Income Tax Act, 1961. The delay in filing appeals was condoned by the Tribunal to prevent a miscarriage of justice, citing principles of substantial justice and legal precedents supporting a liberal interpretation of "sufficient cause" for delays. Case-Laws Income Tax Fri, 01 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261239