https://www.taxtmi.com/highlights?id=59000 Penalty levied u/s. 271(1)(c) - capital gain on transfer of agricultural land - As equally true that on the date of sale the said distance was less than 8 KMS. We are of the considered view that the chargeability of capital gain tax under such circumstances is a debatable issue. We further find that the appellant claim is well supported by the certificate of the Tehsildar, Sohna which was also confirmed by the A.O. in his remand report. - the CIT(A) has rightly deleted the penalty levied u/s. 271(1)(c) - AT en-us Sat, 31 Jul 2021 09:46:51 +0530 Sat, 31 Jul 2021 09:46:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=59000 Penalty levied u/s. 271(1)(c) - capital gain on transfer of agricultural land - As equally true that on the date of sale the said distance was less than 8 KMS. We are of the considered view that the chargeability of capital gain tax under such circumstances is a debatable issue. We further find that the appellant claim is well supported by the certificate of the Tehsildar, Sohna which was also confirmed by the A.O. in his remand report. - the CIT(A) has rightly deleted the penalty levied u/s. 271(1)(c) - AT Highlights Income Tax Sat, 31 Jul 2021 09:46:51 +0530 https://www.taxtmi.com/highlights?id=59000