https://www.taxtmi.com/caselaws?id=754752 The ITAT Ahmedabad remanded the matter to the AO for verification of whether land qualified as agricultural land under Section 2(14) of the Income Tax Act. The assessee carried on agricultural activities until the date of sale despite the land being converted to non-agricultural use in revenue records prior to sale. The ITAT held that continuous agricultural activities maintain the land's agricultural character regardless of conversion. The AO must verify if the land meets Section 2(14) conditions, including prescribed municipal limits. The CIT(Appeals) direction allowing deduction under Section 54B/54F after verification was upheld. Appeal partly allowed for statistical purposes. en-us Thu, 15 Feb 2024 00:00:00 +0530 Fri, 28 Jun 2024 15:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754752 The ITAT Ahmedabad remanded the matter to the AO for verification of whether land qualified as agricultural land under Section 2(14) of the Income Tax Act. The assessee carried on agricultural activities until the date of sale despite the land being converted to non-agricultural use in revenue records prior to sale. The ITAT held that continuous agricultural activities maintain the land's agricultural character regardless of conversion. The AO must verify if the land meets Section 2(14) conditions, including prescribed municipal limits. The CIT(Appeals) direction allowing deduction under Section 54B/54F after verification was upheld. Appeal partly allowed for statistical purposes. Case-Laws Income Tax Thu, 15 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754752