https://www.taxtmi.com/caselaws?id=418731 The Tribunal allowed the appeal of the assessee in a case concerning the determination of capital gain tax liability on the sale of land initially treated as agricultural land. Despite the land being sold to an industrial company and used for non-agricultural purposes, the Tribunal considered the agricultural nature of the land at the time of purchase and the legal precedents supporting the exemption of profits from the sale of agricultural land under specific circumstances, ultimately ruling in favor of the assessee. en-us Fri, 18 Feb 2022 00:00:00 +0530 Wed, 23 Feb 2022 08:28:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418731 The Tribunal allowed the appeal of the assessee in a case concerning the determination of capital gain tax liability on the sale of land initially treated as agricultural land. Despite the land being sold to an industrial company and used for non-agricultural purposes, the Tribunal considered the agricultural nature of the land at the time of purchase and the legal precedents supporting the exemption of profits from the sale of agricultural land under specific circumstances, ultimately ruling in favor of the assessee. Case-Laws Income Tax Fri, 18 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418731