https://www.taxtmi.com/caselaws?id=308381 The Tribunal held that the gains from the sale of land should be classified as capital gains, not business income, as the land was held for agricultural purposes for 20 years. Consequently, the assessee was eligible for the deduction under Section 54F and indexation benefits. The appeal was allowed in favor of the assessee, overturning the lower authorities' decisions. en-us Fri, 16 Oct 2015 00:00:00 +0530 Wed, 21 Jun 2023 20:35:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308381 The Tribunal held that the gains from the sale of land should be classified as capital gains, not business income, as the land was held for agricultural purposes for 20 years. Consequently, the assessee was eligible for the deduction under Section 54F and indexation benefits. The appeal was allowed in favor of the assessee, overturning the lower authorities' decisions. Case-Laws Income Tax Fri, 16 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308381