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2018 (7) TMI 749 - ITAT DELHINature of land sold - Agricultural or capital asset - CIT-S holding that land sold by the assessee was not a capital asset even though it had been declared as a part of industrial area by the Govt. and had in fact been sold as non agricultural land - Held that:- Agricultural land which was cultivated by the assessee for agricultural purposes, on being notified by the Govt, the land was sold for industrial purposes The impugned land was sold by the assessee is an "agricultural land" as it is shown so in the land records and the assessee has given proper explanation about not showing the agricultural income in her return of income due to smallness. In view of this we do not find any infirmity in the order of the ld CIT(A) and we uphold it. Accordingly, appeal of the revenue is dismissed.
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