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2019 (3) TMI 904 - AT - Income TaxNature of land sold - agricultural land or capital asset u/s 2(14) - calculation of distance of more than 8 KMs. from the local limit of any municipality cantonment board - HELD THAT:- As noticed that assessing officer has mentioned in his order that assessee has sold an immovable property (non-agricultural land). However, we find that the ld. CIT(A) has held that assessee has sold an agricultural which is not a capital asset. In the light of the above facts, we are of the view that it will be appropriate to restore this issue to the file of ld. CIT(A) to adjudicate the veracity of the fact reported by the A.O. in the assessment order that the sold land was non-agricultural land. In the result, appeal of the revenue of the assessee is allowed for statistical purposes.
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