https://www.taxtmi.com/caselaws?id=177376 The Tribunal ruled in favor of the assessees, determining that the land sold was agricultural, thus exempting them from capital gains tax. The validity of the notice under Section 148 was upheld, and partial relief was granted for the disallowance of expenses. The Tribunal indicated that the charging of interest under Sections 234A and 234B would be consequential based on the final assessment of income. Each assessee's appeal was partly allowed, and stay petitions were dismissed as infructuous. en-us Thu, 18 Aug 2011 00:00:00 +0530 Mon, 09 Oct 2017 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177376 The Tribunal ruled in favor of the assessees, determining that the land sold was agricultural, thus exempting them from capital gains tax. The validity of the notice under Section 148 was upheld, and partial relief was granted for the disallowance of expenses. The Tribunal indicated that the charging of interest under Sections 234A and 234B would be consequential based on the final assessment of income. Each assessee's appeal was partly allowed, and stay petitions were dismissed as infructuous. Case-Laws Income Tax Thu, 18 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177376