https://www.taxtmi.com/caselaws?id=284926 The appeal against the order of the ld. CIT(A)-I, Ludhiana u/s 250(6) of the Income-tax Act for Assessment Year 2006-07 was dismissed on 07.03.2012. The CIT(A) upheld the contention that the land sold was not a capital asset as per the Act's provisions, based on the argument that the new asset did not fall within the specified limits. Consequently, the addition of &8377;18,03,522/- as short term capital gains was deleted. en-us Wed, 07 Mar 2012 00:00:00 +0530 Tue, 17 Dec 2019 10:32:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284926 The appeal against the order of the ld. CIT(A)-I, Ludhiana u/s 250(6) of the Income-tax Act for Assessment Year 2006-07 was dismissed on 07.03.2012. The CIT(A) upheld the contention that the land sold was not a capital asset as per the Act's provisions, based on the argument that the new asset did not fall within the specified limits. Consequently, the addition of &8377;18,03,522/- as short term capital gains was deleted. Case-Laws Income Tax Wed, 07 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284926