Income Arising from Sold Land Established as Agricultural Land cannot be Treated as Capital Asset: ITAT [Read Order]

Income Arising from Sold Land Established - Agricultural Land Treated as Capital Asset - ITAT - TAXSCAN

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that income arising from land could not be treated as capital asset once the nature of the land sold had established as agricultural land, A search was conducted and proceedings were taken against the resident assesseeKamlesh Kumar Rathi in compliance with Section 153A of…

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