2025 (3) TMI 1846

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.... Satyasai Rath,CIT-DR ORDER PER K. NARASIMHA CHARY, J.M: Aggrieved by the order dated 30/01/2024 passed by the learned Commissioner of Income Tax (Appeals), ("learned CIT(A)"), National Faceless Appeal Centre, Delhi in the case of P.V.Raghavulu ("the assessee") for the assessment year 2016-17, assessee preferred this appeal. 2. Brief facts of the case are that assessment in the case of....

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....the Land Conversion Order dated 14/04/2014) is required to be brought to long term capital tax is erroneous on facts and circumstances. Learned CIT(A) held that the market value of agricultural land @Rs.53,37,500/- is to be treated as market value of capital asset has been converted into stock-in-trade by the assessee. He further observed that the learned Assessing Officer has not brought on recor....

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....ness income after conversion of capital asset into stock-in-trade under the head "Business Income" as per the provisions of the Act. 5. By holding so, learned CIT(A) vide para 6 of the order dismissed the appeal of the assessee in a contradictory manner against to his own findings at para 5 to 5.1.5. of his order. He, therefore, prayed to set aside the order of the learned CIT(A) and allow the ....