https://www.taxtmi.com/caselaws?id=376883 The case involved an appeal regarding the treatment of land as exempt under section 2(14) of the Income Tax Act. The CIT(A) ruled in favor of the assessee, determining that the land sold was agricultural and not a capital asset, thus exempt from tax. However, the issue of whether the sold land was non-agricultural was remanded back to the CIT(A) for further examination. As a result, the revenue's appeal was allowed for statistical purposes, and the cross objection filed by the assessee was dismissed. en-us Thu, 07 Mar 2019 00:00:00 +0530 Mon, 18 Mar 2019 09:00:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376883 The case involved an appeal regarding the treatment of land as exempt under section 2(14) of the Income Tax Act. The CIT(A) ruled in favor of the assessee, determining that the land sold was agricultural and not a capital asset, thus exempt from tax. However, the issue of whether the sold land was non-agricultural was remanded back to the CIT(A) for further examination. As a result, the revenue's appeal was allowed for statistical purposes, and the cross objection filed by the assessee was dismissed. Case-Laws Income Tax Thu, 07 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376883