https://www.taxtmi.com/caselaws?id=771681 ITAT Ahmedabad held that rural agricultural land falls within the scope of section 56(2)(x) as "immovable property" despite being excluded from capital gains provisions. The tribunal distinguished between seller's exemption (agricultural land not being a capital asset) and purchaser's liability under section 56(2)(x). Where stamp duty valuation is disputed, AO must refer the matter to DVO as requested by assessee. The case was remanded to AO with directions to make DVO reference. Appeal allowed for statistical purposes. en-us Tue, 27 May 2025 00:00:00 +0530 Sat, 14 Mar 2026 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771681 ITAT Ahmedabad held that rural agricultural land falls within the scope of section 56(2)(x) as "immovable property" despite being excluded from capital gains provisions. The tribunal distinguished between seller's exemption (agricultural land not being a capital asset) and purchaser's liability under section 56(2)(x). Where stamp duty valuation is disputed, AO must refer the matter to DVO as requested by assessee. The case was remanded to AO with directions to make DVO reference. Appeal allowed for statistical purposes. Case-Laws Income Tax Tue, 27 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771681