https://www.taxtmi.com/caselaws?id=348823 The Tribunal upheld the addition of Rs. 1,99,56,849/- as Long Term Capital Gains (LTCG), ruling that the land sold by the assessee did not qualify as agricultural land exempt from tax. The Tribunal directed the Assessing Officer to verify and allow the indexed cost of acquisition and improvement, and apply the beneficial rate of tax under section 112, after providing the assessee an opportunity of hearing. en-us Fri, 22 Sep 2017 00:00:00 +0530 Fri, 29 Sep 2017 11:58:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348823 The Tribunal upheld the addition of Rs. 1,99,56,849/- as Long Term Capital Gains (LTCG), ruling that the land sold by the assessee did not qualify as agricultural land exempt from tax. The Tribunal directed the Assessing Officer to verify and allow the indexed cost of acquisition and improvement, and apply the beneficial rate of tax under section 112, after providing the assessee an opportunity of hearing. Case-Laws Income Tax Fri, 22 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348823