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2019 (1) TMI 150 - ITAT INDOREUndisclosed long term capital gain - as contended by assessee the alleged land was an agricultural land not falling under the category of capital assets as provided u/s 2(14) - as there was no column in the income tax return she bonafidely declared the transaction under the head capital and claimed deduction u/s 54B - Held that:- It is clearly emanating from the records that the agriculture land is located 27 Km away from the municipal limit of city Amarawati and issituated in a village having population of 2294 persons and this fact has been certified by the Tehsildar of Shivangaon vide letter dated 6.3.2017. Therefore it is not disputed that the alleged agricultural land do not fall under the head capital gain assets as provided in Section 2(14) of the Act and therefore the capital gain arised in the sale of said agricultural land is not liable to tax. - decided against revenue.
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