https://www.taxtmi.com/caselaws?id=439551 The appeal was allowed, and the addition of long term capital gain on the sale of rural agricultural land was directed to be deleted. The Tribunal found evidence from sale and revenue records supporting the land's agricultural nature, contrary to the assessing officer's view. Referring to a Delhi High Court case, the Tribunal emphasized the agricultural activities on the land, concluding it qualified as agricultural land. The misapplication of relevant sections was noted, leading to the deletion of the long term capital gain addition. en-us Fri, 23 Jun 2023 00:00:00 +0530 Mon, 26 Jun 2023 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439551 The appeal was allowed, and the addition of long term capital gain on the sale of rural agricultural land was directed to be deleted. The Tribunal found evidence from sale and revenue records supporting the land's agricultural nature, contrary to the assessing officer's view. Referring to a Delhi High Court case, the Tribunal emphasized the agricultural activities on the land, concluding it qualified as agricultural land. The misapplication of relevant sections was noted, leading to the deletion of the long term capital gain addition. Case-Laws Income Tax Fri, 23 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439551