2019 (2) TMI 647

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....eal by the Revenue is filed under Section 260A of the Income Tax Act, 1961 (for short the "Act") against the order dated 20.01.2011 passed by the Income Tax Appellate Tribunal, Madras 'D' Bench in ITA No.1581/Mds/2010 for the assessment year 2007-08. 2. This Appeal has been admitted on the following Substantial Questions of Law:- "1. Whether on the facts and circumstances of the case, t....

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....he first Appellate authority viz., the Commissioner of Income Tax (Appeals) (CIT (A)) as well as the Tribunal have made a thorough factual exercise and found that the land sold by the assessee was sold as an agricultural land. More importantly, the CIT (A) called for a remand report from the Assessing Officer as to the distance between the property in question and the outer limit of the notified m....