https://www.taxtmi.com/caselaws?id=796507 Agricultural land demonstrably used for cultivation until transfer retained its agricultural character despite tenancy-law permission before sale and the purchaser obtaining non-agricultural permission later; gains on transfer were therefore not taxable as capital gains. Agricultural receipts supported by undisputed bills, recorded in the books and consistent with earlier disclosures could not be treated as unexplained income merely because they were omitted from the return. Share-sale profit remained taxable as long-term capital gain because the assessee did not hold the controlling stake or management of the company, defeating the basis for characterising the sale as a business venture. All three additions were deleted. en-us Tue, 07 Jul 2026 00:00:00 +0530 Thu, 06 Aug 2026 09:11:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796507 Agricultural land demonstrably used for cultivation until transfer retained its agricultural character despite tenancy-law permission before sale and the purchaser obtaining non-agricultural permission later; gains on transfer were therefore not taxable as capital gains. Agricultural receipts supported by undisputed bills, recorded in the books and consistent with earlier disclosures could not be treated as unexplained income merely because they were omitted from the return. Share-sale profit remained taxable as long-term capital gain because the assessee did not hold the controlling stake or management of the company, defeating the basis for characterising the sale as a business venture. All three additions were deleted. Case-Laws Income Tax Tue, 07 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796507