https://www.taxtmi.com/caselaws?id=421461 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s decisions on the addition of long term capital gain, agricultural activities on the sold land, and the treatment of advance payment for new land purchase under Section 54B. The Tribunal found that the land was used for agricultural purposes, the advance payment qualified under Section 54B, and compliance with Income Tax Act provisions was met. Consequently, the Revenue's appeals were dismissed based on the Tribunal's detailed analysis and application of legal provisions. en-us Fri, 22 Apr 2022 00:00:00 +0530 Mon, 25 Apr 2022 08:19:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421461 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s decisions on the addition of long term capital gain, agricultural activities on the sold land, and the treatment of advance payment for new land purchase under Section 54B. The Tribunal found that the land was used for agricultural purposes, the advance payment qualified under Section 54B, and compliance with Income Tax Act provisions was met. Consequently, the Revenue's appeals were dismissed based on the Tribunal's detailed analysis and application of legal provisions. Case-Laws Income Tax Fri, 22 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421461