Reassessment of Land Sale: Does It Qualify as Agricultural Under Income Tax Act Sections 147 & 2(14)?

Reassessment of Land Sale: Does It Qualify as Agricultural Under Income Tax Act Sections 147 & 2(14)? https://www.taxtmi.com/highlights?id=53391 Reopening of assessment u/s 147 - capital gain of sale of land - agriculture land or not u/s 2(14) - The assessee is claiming exemption and hence onus is on assessee to prove that its income falls within four corners of exemption provisions as are contained in the 1961 Act. en-us Thu, 14 May 2020 13:04:48 +0530 Thu, 14 May 2020 13:04:48 +0530 TaxTMI RSS Generator Reassessment of Land Sale: Does It Qualify as Agricultural Under Income Tax Act Sections 147 & 2(14)? https://www.taxtmi.com/highlights?id=53391 Reopening of assessment u/s 147 - capital gain of sale of land - agriculture land or not u/s 2(14) - The assessee is claiming exemption and hence onus is on assessee to prove that its income falls within four corners of exemption provisions as are contained in the 1961 Act. Highlights Income Tax Thu, 14 May 2020 13:04:48 +0530 https://www.taxtmi.com/highlights?id=53391