https://www.taxtmi.com/caselaws?id=313613 Section 153C assessments require seized material with a live nexus to determining the other person's total income for the relevant year. In unabated assessments, additions must rest on search material relating to that person; disclosures made in returns without supporting seized evidence do not satisfy this jurisdictional condition. Land character for capital-gains purposes depends on cumulative facts, including revenue records, actual cultivation, continued agricultural use and surrounding circumstances. Conversion permission or a purchaser's intended non-agricultural use does not by itself alter agricultural character, particularly where conversion remains unimplemented. Agricultural land outside the definition of capital asset does not generate taxable capital gains, and the same facts may not support treatment as business income. en-us Mon, 18 Apr 2022 00:00:00 +0530 Thu, 25 Apr 2024 06:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313613 Section 153C assessments require seized material with a live nexus to determining the other person's total income for the relevant year. In unabated assessments, additions must rest on search material relating to that person; disclosures made in returns without supporting seized evidence do not satisfy this jurisdictional condition. Land character for capital-gains purposes depends on cumulative facts, including revenue records, actual cultivation, continued agricultural use and surrounding circumstances. Conversion permission or a purchaser's intended non-agricultural use does not by itself alter agricultural character, particularly where conversion remains unimplemented. Agricultural land outside the definition of capital asset does not generate taxable capital gains, and the same facts may not support treatment as business income. Case-Laws Income Tax Mon, 18 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313613