The assessee was an agriculturist, had not filed her return of income for assessment year under consideration. The department re-opened the case was under section 147 by issuing a notice under section 148 of the Act.
In response to the notice, the assessee claimed that the land sold was agricultural land. On first appeal, the Commissioner of Income Tax (Appeals) granted relief to the assessee.
The Tribunal 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,” the Tribunal said.To Read the full text of the Order CLICK HERE