https://www.taxtmi.com/caselaws?id=373528 The Tribunal set aside the CIT(Appeal) orders and directed the Assessing Officer to verify facts regarding the nature of the land in question. The decision favored the assessee for statistical purposes, allowing both appeals to be restored for further verification. The judgment underscores the significance of factual verification in assessing the tax treatment of land transactions, stressing the requirement for concrete evidence to substantiate claims and intentions concerning land use and character. en-us Thu, 10 Jan 2019 00:00:00 +0530 Tue, 15 Jan 2019 12:03:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373528 The Tribunal set aside the CIT(Appeal) orders and directed the Assessing Officer to verify facts regarding the nature of the land in question. The decision favored the assessee for statistical purposes, allowing both appeals to be restored for further verification. The judgment underscores the significance of factual verification in assessing the tax treatment of land transactions, stressing the requirement for concrete evidence to substantiate claims and intentions concerning land use and character. Case-Laws Income Tax Thu, 10 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373528