https://www.taxtmi.com/caselaws?id=330251 The Tribunal dismissed the appeal, upholding the CIT(A)'s decision to tax capital gains from the sale of agricultural land. The Tribunal ruled the land as a capital asset under the Central Government notification, denying exemption under Section 54B due to non-claim in the original return. Allegations of natural justice violation were rejected, affirming the AO's findings. The appellant's contentions were dismissed, and the Tribunal upheld the tax assessment on the property sale. en-us Wed, 13 Jul 2016 00:00:00 +0530 Thu, 21 Jul 2016 10:40:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330251 The Tribunal dismissed the appeal, upholding the CIT(A)'s decision to tax capital gains from the sale of agricultural land. The Tribunal ruled the land as a capital asset under the Central Government notification, denying exemption under Section 54B due to non-claim in the original return. Allegations of natural justice violation were rejected, affirming the AO's findings. The appellant's contentions were dismissed, and the Tribunal upheld the tax assessment on the property sale. Case-Laws Income Tax Wed, 13 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330251