https://www.taxtmi.com/caselaws?id=437021 The delay in filing the appeals was condoned, and the appeals were admitted for adjudication. The Tribunal determined that the land sold by the assessee qualified as agricultural land eligible for exemption under section 2(14)(iii) of the Income Tax Act, 1961. The evidence presented by the assessee, including purchase deeds and revenue records, supported the agricultural nature of the land. The Tribunal found that not reporting agricultural income does not change the character of the land, following the decision in PCIT v. M/s. K.P.R. Developers Ltd. Both appeals were allowed for the assessment years 2011-12 and 2012-13. en-us Wed, 29 Mar 2023 00:00:00 +0530 Wed, 26 Apr 2023 09:12:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437021 The delay in filing the appeals was condoned, and the appeals were admitted for adjudication. The Tribunal determined that the land sold by the assessee qualified as agricultural land eligible for exemption under section 2(14)(iii) of the Income Tax Act, 1961. The evidence presented by the assessee, including purchase deeds and revenue records, supported the agricultural nature of the land. The Tribunal found that not reporting agricultural income does not change the character of the land, following the decision in PCIT v. M/s. K.P.R. Developers Ltd. Both appeals were allowed for the assessment years 2011-12 and 2012-13. Case-Laws Income Tax Wed, 29 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437021