https://www.taxtmi.com/caselaws?id=773802 ITAT Hyderabad ruled on land sale classification and exemption claims. The tribunal remanded the matter to AO to verify if agricultural land at Village Manchirevula was within 8 km of GHMC municipal limits to determine capital asset status under Section 2(14)(iii)(b). For Section 54F exemption, ITAT clarified investments can be made until delayed return filing date under Section 139(4), not just the due date. The tribunal upheld CIT(A)'s decision restricting Section 54B exemption to registered sale deed values and rejecting improvement cost deduction claims lacking proper documentation beyond rough notebook entries. en-us Mon, 02 Jun 2025 00:00:00 +0530 Sat, 28 Jun 2025 08:31:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773802 ITAT Hyderabad ruled on land sale classification and exemption claims. The tribunal remanded the matter to AO to verify if agricultural land at Village Manchirevula was within 8 km of GHMC municipal limits to determine capital asset status under Section 2(14)(iii)(b). For Section 54F exemption, ITAT clarified investments can be made until delayed return filing date under Section 139(4), not just the due date. The tribunal upheld CIT(A)'s decision restricting Section 54B exemption to registered sale deed values and rejecting improvement cost deduction claims lacking proper documentation beyond rough notebook entries. Case-Laws Income Tax Mon, 02 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773802