Share of Substantial Profit earned from sale of Agricultural Land to NRDA eligible to Tax: ITAT upholds Revision Order [Read Order]

Share of Substantial Profit - Substantial Profit - Agricultural Land - Profit - NRDA - NRDA eligible to Tax - taxscan

The Income Tax Appellate Tribunal (ITAT) Raipur  Bench while upheld the revision order held that the share of substantial profit earned from sale of agricultural land to National Rural Development Authority (NRDA) is eligible to tax. The assessee Anand Surana e-filed his return of income for assessment year 2016-17 on declaring an income of Rs.8,46,640/-…

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