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2017 (7) TMI 1312 - AT - Income TaxTaxability of gains on the sale of land - nature of land sold - reliance of evidence 7/12 extract furnished by the assessee - HELD THAT:- CIT(A) after considering various case laws cited in the order has given a finding that the 7/12 extract furnished by the assessee indicated that the land that was sold by assessee is irrigated and cultivated and various crops were grown and the grass was also grown and utilized as animal feed. Assessee also submitted that the sales receipts of the mangoes sold in the market and since the income was more than the expenditure incurred, it was not shown in the income tax return. He has further given a finding that the position of other agricultural lands is reflected in the balance-sheet filed by the assessee. He has further given a finding that assessee with the help cogent and reliable evidences has been able to prove that the land was used for agricultural purpose and agricultural operations were also carried out in the said land since 1993. He has further noted that the observation of AO regarding non-agricultural operations carried on the said lands was not correct in the light of the evidence 7/12 extract furnished by the assessee. Before us, the Revenue has not placed any material to controvert the findings of CIT(A) nor pointed out any fallacy in the findings of CIT(A). We therefore find no reason to interfere with the order of CIT(A). Thus, the grounds of Revenue are dismissed. - Decided against revenue.
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