Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights March 2015 Year 2015 This

Revision u/s 263 - Agriculture land - As such, there is no ...


Section 263 Revision Annulled: No Evidence to Classify Agricultural Land as Capital Asset Under IT Act Section 2(14).

March 18, 2015

Case Laws     Income Tax     AT

Revision u/s 263 - Agriculture land - As such, there is no incriminating material in the possession of the Assessing Officer to hold that the land in question is capital asset within the meaning of section 2(14) - Revision u/s 263 annulled - AT

View Source

 


 

You may also like:

  1. LTCG - capital assets OR agricultural land - at the time of sale the assessee’s land was more than 8 KMs away from the local limits of Municipal Council - assessee’s...

  2. Nature of land sold - Capital asset u/s 2(14) or agricultural land - If both the conditions are present then it would not be agricultural land and would be treated as...

  3. Agricultural land which is beyond 8 Kms from municipal limits is not a capital asset - AT

  4. Addition u/s. 56(2)(viib) - transaction of sale of agricultural land - consideration as per the stamp value - The Tribunal admitted additional evidence provided by the...

  5. The assessee sold agricultural land during the year which the Assessing Officer (AO) treated as a capital asset, leading to levy of long-term capital gains tax. The...

  6. Nature of sale of land - whether plot of land is agricultural land or non agricultural land - classified as dry land for which Kisthu has been paid - the land in...

  7. Revision u/s 263 - Agricultural income - the assessee has only proved that the land is an agricultural land. The assessee in order to prove the agricultural income had...

  8. Capital gain - nature of land sold - capital asset v/s agricultural land - whether the agricultural land sold by the assessee or his HUF is a ‘capital asset’? - land...

  9. ITAT upheld taxpayer's claim for exemption under section 54B regarding capital gains from sale of agricultural land. Evidence showed consistent agricultural income in...

  10. Capital gain on sale of land - Nature of land - it is undisputed fact that assessee has sold agricultural land on which he was carrying out agricultural activities prior...

  11. Long term capital gain - agricultural land - capital asset u/s 2(14) - land as situated within Municipal Limit or not?- it can be held that “Dharuhera” of District...

  12. Nature of land sold - Agricultural land or capital asset - Though the circumstance that the land is classified as Agricultural in the revenue records is in favour of the...

  13. HC upheld the tax authorities' determination that the disputed land was not agricultural land under Section 2(14)(iii) of the Income Tax Act, making gains from its sale...

  14. The ITAT Visakhapatnam dealt with a revision u/s 263 regarding the treatment of a residential property sale as short-term or long-term capital asset. The dispute...

  15. Land sold is agricultural land or it is to be treated as a capital asset in the terms of section 2(14) of the Act – Even if no agricultural production was done by the...

 

Quick Updates:Latest Updates