https://www.taxtmi.com/caselaws?id=772521 ITAT Chennai held that land sold by assessee qualified as agricultural land under section 2(14)(iii)(b), being located 16 kms from municipal limits and supported by revenue records including Patta and Chitta Adangal showing groundnut cultivation. Previous years' agricultural income accepted by AO further confirmed agricultural nature. Long term capital gains addition was deleted as land sale was exempt from taxation. Regarding section 14A disallowance, ITAT directed AO to restrict disallowance to extent of exempt income earned during the year, following HC precedents. en-us Thu, 29 May 2025 00:00:00 +0530 Tue, 10 Jun 2025 08:43:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772521 ITAT Chennai held that land sold by assessee qualified as agricultural land under section 2(14)(iii)(b), being located 16 kms from municipal limits and supported by revenue records including Patta and Chitta Adangal showing groundnut cultivation. Previous years' agricultural income accepted by AO further confirmed agricultural nature. Long term capital gains addition was deleted as land sale was exempt from taxation. Regarding section 14A disallowance, ITAT directed AO to restrict disallowance to extent of exempt income earned during the year, following HC precedents. Case-Laws Income Tax Thu, 29 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772521