https://www.taxtmi.com/caselaws?id=391904 The Tribunal partly allowed the appeals for the assessment years 2004-05 and 2007-08. It directed the Assessing Officer to recompute long-term capital gains with indexation benefits. The denial of carry forward of capital loss and the addition related to interest on FD were upheld. The legality of the search and assessment issues was dismissed as withdrawn. The sale transaction was not treated as business income, and the land was classified as agricultural, exempting it from capital gains tax. en-us Thu, 30 Jan 2020 00:00:00 +0530 Sat, 08 Feb 2020 20:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391904 The Tribunal partly allowed the appeals for the assessment years 2004-05 and 2007-08. It directed the Assessing Officer to recompute long-term capital gains with indexation benefits. The denial of carry forward of capital loss and the addition related to interest on FD were upheld. The legality of the search and assessment issues was dismissed as withdrawn. The sale transaction was not treated as business income, and the land was classified as agricultural, exempting it from capital gains tax. Case-Laws Income Tax Thu, 30 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391904