https://www.taxtmi.com/caselaws?id=268740 The Tribunal upheld the decision of the CIT(A) that the land sold by the assessee was agricultural land and not a capital asset. Consequently, the profit from the sale was exempt from capital gains tax. Additionally, the Tribunal affirmed that the declared agricultural income should not be treated as income from other sources. The Revenue's appeal in ITA No.1560/Mds/2015 was dismissed. en-us Fri, 20 Nov 2015 00:00:00 +0530 Tue, 01 Dec 2015 00:56:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268740 The Tribunal upheld the decision of the CIT(A) that the land sold by the assessee was agricultural land and not a capital asset. Consequently, the profit from the sale was exempt from capital gains tax. Additionally, the Tribunal affirmed that the declared agricultural income should not be treated as income from other sources. The Revenue's appeal in ITA No.1560/Mds/2015 was dismissed. Case-Laws Income Tax Fri, 20 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268740