https://www.taxtmi.com/highlights?id=79749 Section 2(1-A) amended retrospectively to restrict agricultural land exemption to rural areas, introducing concept of "urban agricultural land" under "capital asset" definition. Tribunal refused to admit additional grounds on merits of Section 115JB MAT computation. Once agricultural land income exempt, cannot be added to book profits for MAT. Tribunal should have allowed submissions before dismissing grounds. HC allowed appeal, set aside Tribunal order, answered legal question in appellant's favor. en-us Fri, 26 Jul 2024 09:08:38 +0530 Fri, 26 Jul 2024 09:08:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=79749 Section 2(1-A) amended retrospectively to restrict agricultural land exemption to rural areas, introducing concept of "urban agricultural land" under "capital asset" definition. Tribunal refused to admit additional grounds on merits of Section 115JB MAT computation. Once agricultural land income exempt, cannot be added to book profits for MAT. Tribunal should have allowed submissions before dismissing grounds. HC allowed appeal, set aside Tribunal order, answered legal question in appellant's favor. Highlights Income Tax Fri, 26 Jul 2024 09:08:38 +0530 https://www.taxtmi.com/highlights?id=79749