https://www.taxtmi.com/caselaws?id=269520 A delay of 433 days in filing the first appeal was accepted because the assessee showed a bona fide and reasonable cause, supported by material on record, and the delay was not found deliberate. The transfer of agricultural land was treated as outside the definition of capital asset, so the resulting short-term capital gain was not taxable. The factual position that the land was agricultural and outside the specified municipal limits was accepted, and the assessee was permitted to raise the legal claim at the appellate stage. The Revenue failed to dislodge these findings, and the relief granted on condonation and merits was sustained. en-us Wed, 30 Sep 2015 00:00:00 +0530 Tue, 15 Dec 2015 22:40:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269520 A delay of 433 days in filing the first appeal was accepted because the assessee showed a bona fide and reasonable cause, supported by material on record, and the delay was not found deliberate. The transfer of agricultural land was treated as outside the definition of capital asset, so the resulting short-term capital gain was not taxable. The factual position that the land was agricultural and outside the specified municipal limits was accepted, and the assessee was permitted to raise the legal claim at the appellate stage. The Revenue failed to dislodge these findings, and the relief granted on condonation and merits was sustained. Case-Laws Income Tax Wed, 30 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269520