https://www.taxtmi.com/caselaws?id=772273 The SC Tribunal addressed the tax classification of land under section 2(14) of the Income Tax Act. The key issue was whether land qualifies as agricultural for tax exemption purposes. The Tribunal ruled in favor of the assessee, holding that land revenue records and historical agricultural use, not just current agricultural activity, determine land classification. The PCIT's revision order was quashed, affirming the original assessment order's exemption. en-us Mon, 28 Apr 2025 00:00:00 +0530 Fri, 06 Jun 2025 08:30:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772273 The SC Tribunal addressed the tax classification of land under section 2(14) of the Income Tax Act. The key issue was whether land qualifies as agricultural for tax exemption purposes. The Tribunal ruled in favor of the assessee, holding that land revenue records and historical agricultural use, not just current agricultural activity, determine land classification. The PCIT's revision order was quashed, affirming the original assessment order's exemption. Case-Laws Income Tax Mon, 28 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772273