https://www.taxtmi.com/caselaws?id=61397 The Appellate Tribunal determined that the two land sales were not valid as they were found to be bogus and manipulated. The Tribunal concluded that the assessee did not intend to transfer the lands despite the execution of sale deeds. It was held that the capital gains from the sale of agricultural land put to agricultural use are not taxable, irrespective of the land's location. The Tribunal dismissed the reference application as unnecessary, as the first question regarding the validity of the land sales was deemed irrelevant, rendering the second question academic. en-us Mon, 27 Apr 1987 00:00:00 +0530 Wed, 12 Jan 2011 15:09:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61397 The Appellate Tribunal determined that the two land sales were not valid as they were found to be bogus and manipulated. The Tribunal concluded that the assessee did not intend to transfer the lands despite the execution of sale deeds. It was held that the capital gains from the sale of agricultural land put to agricultural use are not taxable, irrespective of the land's location. The Tribunal dismissed the reference application as unnecessary, as the first question regarding the validity of the land sales was deemed irrelevant, rendering the second question academic. Case-Laws Income Tax Mon, 27 Apr 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61397