2021 (4) TMI 360 - MADRAS HIGH COURT - Income Tax

Head Note / Extract:
Nature of land sold - whether the land which was sold by the assessee was an agricultural land or not? - Whether tribunal was right in treating the land sold by the assessee as an agricultural land falling outside the purview of the capital asset and consequently holding that no capital gains tax is leviable on the sale of land? - HELD THAT:- It is not in dispute that the land belonging to the respondent - assessee and her husband, which is the subject matter in [2019 (2) TMI 647 - MADRAS HIGH COURT] are adjoining lands and therefore, when the Hon'ble Division Bench finds that the respondent's husband's land is an agricultural land, the very same finding applies to the case of the respondent - assessee. In these circumstances, following the judgment the concurrent findings recorded by the Commissioner of Income Tax and the Income Tax Appellate Tribunal does not call for any interference.