https://www.taxtmi.com/caselaws?id=407545 The Tribunal remanded the case to the Assessing Officer for fresh adjudication on both issues: the classification of land as agricultural and the substitution of sale consideration with Jantri value for calculating capital gains tax. The Tribunal emphasized the importance of considering the actual and intended use of the land for agricultural purposes and the need for a detailed examination of the sale consideration versus Jantri value. The appeal was allowed for statistical purposes, ensuring a thorough review in accordance with legal provisions and precedents. en-us Fri, 09 Apr 2021 00:00:00 +0530 Fri, 14 May 2021 08:32:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407545 The Tribunal remanded the case to the Assessing Officer for fresh adjudication on both issues: the classification of land as agricultural and the substitution of sale consideration with Jantri value for calculating capital gains tax. The Tribunal emphasized the importance of considering the actual and intended use of the land for agricultural purposes and the need for a detailed examination of the sale consideration versus Jantri value. The appeal was allowed for statistical purposes, ensuring a thorough review in accordance with legal provisions and precedents. Case-Laws Income Tax Fri, 09 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407545