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2020 (11) TMI 177 - AT - Income TaxRectification of mistake u/s 254 - whether the profit from sale of agricultural land was to be treated as business income or income from capital gain? - HELD THAT:- While the assessee claimed that the income derived from sale of agricultural land is exempt from being taxed under the head capital gain, the Assessing Officer held that it is to be treated as income from business or profession. Tribunal while deciding the issue in appeal has taken note of the factual matrix as well as the submissions made and has concluded that the nature of land sold being agricultural land, the income derived from the sale of such land cannot be treated as income from business or profession as the land sold is not a business asset. In the present misc. application, the Revenue is basically challenging the aforesaid reasoning of the Tribunal. Revenue in the guise of rectification, in reality, wants review of the appeal order. This, in our view, is not within the ambit of section 254(2) of the Act which is meant only for rectifying mistakes which are apparent on the face of record. Since, the appeal order, prima facie, does not reveal any mistake apparent on the face of record, we are unable to entertain the present application filed by the Revenue - MA dismissed.
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