https://www.taxtmi.com/caselaws?id=401857 The tribunal ruled in favor of the appellant, finding that the profit from the sale of agricultural land should not be taxed under 'income from business or profession.' Despite the appellant's real estate business activities, the tribunal emphasized that holding agricultural land for personal use or sale is permissible. With evidence confirming the agricultural nature of the land, including revenue records and a certificate from the Tahsildar, the tribunal directed the Assessing Officer to delete the addition made under 'income from business or profession.' en-us Wed, 28 Oct 2020 00:00:00 +0530 Fri, 18 Dec 2020 16:34:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401857 The tribunal ruled in favor of the appellant, finding that the profit from the sale of agricultural land should not be taxed under 'income from business or profession.' Despite the appellant's real estate business activities, the tribunal emphasized that holding agricultural land for personal use or sale is permissible. With evidence confirming the agricultural nature of the land, including revenue records and a certificate from the Tahsildar, the tribunal directed the Assessing Officer to delete the addition made under 'income from business or profession.' Case-Laws Income Tax Wed, 28 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401857