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2012 (10) TMI 603 - AT - Income TaxCapital Gain – Sale of agricultural land – Land sold by the assessee fell beyond 8 KMs of any municipality or cantonment - Held that:- As If the assessees are able to show that agricultural activities were carried out, and the intended purpose was to use the land for agriculture. In such a way that a safe conclusion can be drawn that the nature of the land was agricultural, then the assessees cannot be considered as liable for capital gains tax on sale thereof. The onus of the assessees to show that the land was agricultural in nature. We, therefore, set aside the orders of authorities below and remit the issue back to the file of the A.O.
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