https://www.taxtmi.com/caselaws?id=338129 The High Court upheld the decisions of the Commissioner of Income Tax (Appeals) and the ITAT, dismissing the revenue's appeal. The Court determined that the profit from the sale of agricultural land should be treated as exempt from tax, considering the land's classification in revenue records as agricultural. The Court emphasized that the burden of proof was met by the assessee, who demonstrated the agricultural use of the land. The classification of the land as agricultural in revenue records was pivotal in the Court's decision. en-us Thu, 01 Sep 2016 00:00:00 +0530 Fri, 20 Jan 2017 18:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338129 The High Court upheld the decisions of the Commissioner of Income Tax (Appeals) and the ITAT, dismissing the revenue's appeal. The Court determined that the profit from the sale of agricultural land should be treated as exempt from tax, considering the land's classification in revenue records as agricultural. The Court emphasized that the burden of proof was met by the assessee, who demonstrated the agricultural use of the land. The classification of the land as agricultural in revenue records was pivotal in the Court's decision. Case-Laws Income Tax Thu, 01 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338129