2025 (7) TMI 1217

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....Revenue has raised the following grounds of appeals: 1. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) is correct in deleing the addition on account of short term capital gain of Rs. 3,54,83,557/- without considering the observation of AO that the land is to be used for Industrial purpose and are deemed non-agricultural land. 2. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) is correct in not appreciating that all the eight pieces of land had been purchased in a very short span and sold after short holding period at an almost three time price, and ignoring the contention of the assessee before the CIT(A) that the crops cultivated was not sold, but ....

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....5 10/09/2015 17,21,468 21/10/2016 48,50,000 31,28,532 13.38 v. Roopgadh 353 2-83-28 30/11/2015 28,84,628 21/10/2016 80,75,000 51,90,372 10.72 Vi. Roopgadh 357A-12 5-20-02 21/08/2015 52,76,416 02/12/2016 145,00,000 92,23,584 15.42 Vil. Bidaj 749 0-10-12 08/01/2025 4,96,570 28/03/2017 12,90,000 7,93,430 26.63 Viii. Bidaj 764 0-50-59 11/09/2015 23,05,814 28/03/2017 64,25,000 41,19,186 18.54           1,99,67,443   5,54,51,000 3,54,83,557   3.1 The purchase of these pieces of land have been accepted by the State as the subsequent sales are du....