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2019 (1) TMI 1657

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.... of the assessee for exemption u/s.54B as well as not allowed the claim of the assessee being beyond 8 km from the municipal limits area. 3. That the addition made by the learned AO should be deleted." 2. The brief facts in this case are that returned income of Rs. 1,41,481/- and agricultural income of Rs. 83,506/- was assessed by the Assessing Officer at Rs. 24,46,809/- and Rs. 83,506/- respectively. The Assessing Officer observed that the assessee has claimed exemption on sale of agricultural land situated in the middle of Mangla Basti, Turkadih Road, Bilaspur. Since the land in question is situated within 8 km from the local limit of the municipality, the land comes under the definition of the capital assets u/s.2(14)(iii) of the Inco....

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....favour should be done by the end of October, 2010. After execution of agreements to sale of impugned agricultural land, the assessee was in search of another agricultural land for purchase and to claim exemption u/s.54B of the Act as well as to continue agricultural operation as in the past. In that process, he got better option in the month of September, 2008, but the conditions put-forth by the sellers of the agricultural land admeasuring 0.993 hector situated at Dharampura, Raipur were that to make payment and get the agricultural land registered in the month of September, 2008 itself. 5. The Ld. CIT(Appeals) after considering the facts of the case, submissions of the assessee and assessment order upheld the addition made by the Assessi....

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....per book. The evidence of agricultural (P-II Khasra ) is placed at page Nos. 55 and 56 of the paper book and kisan kitab is also placed at page No. 56A to 56C of the paper book. Further, evidence of agricultural character of the land (P-II, Khasra are also provided in page 66 to 67B) and kisan kitab is at page No.67C and 67D of the paper book. The agricultural activity being carried on in the new land purchased , agricultural income disclosed in the return of assessment year 2010-11 which is placed at page No.9 of the paper book and assessment year 2011-12 which is placed at page 5 of the paper book. 8. The Ld. AR further submitted that the new land purchased after entering into sale agreement of old land which are at page 10 to 27 of the ....

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....ultural land. The corresponding evidences regarding the sale of land and nature of land has been annexed in the paper book filed before us. Similarly, it is not disputed that the land purchased is agricultural in nature. There are evidences on record such as kisan kitab, Kistbandhi Khataoni issued by Patwari, P-II Khasra and returned filed which disclosed agricultural income. The Ld. DR did not dispute this fact that the assessee was not in possession of agricultural land where agricultural activities were done continuously which was sold and then another agricultural land was purchased. Thereafter also, agricultural activities were performed continuously. Even in the return of income filed evidence of agricultural income has been shown. ....