https://www.taxtmi.com/caselaws?id=338329 The Appellate Tribunal ITAT Ahmedabad addressed the validity of reopening the assessment and the correctness of long term capital gains addition from a land sale. The tribunal remitted the matter back to the CIT(A) for further consideration, allowing the assessee to prove the land was agricultural and not a capital asset. The tribunal held that the assessee could challenge the taxability of previously declared income and that the issue required further adjudication based on relevant legal precedents and provisions of the Income Tax Act. en-us Fri, 06 Jan 2017 00:00:00 +0530 Wed, 01 Feb 2017 08:44:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338329 The Appellate Tribunal ITAT Ahmedabad addressed the validity of reopening the assessment and the correctness of long term capital gains addition from a land sale. The tribunal remitted the matter back to the CIT(A) for further consideration, allowing the assessee to prove the land was agricultural and not a capital asset. The tribunal held that the assessee could challenge the taxability of previously declared income and that the issue required further adjudication based on relevant legal precedents and provisions of the Income Tax Act. Case-Laws Income Tax Fri, 06 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338329