![Agricultural Land purchased in Name of Wife Eligible for Capital Gain Deduction u/s 54B of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Agricultural-Land-purchase-Land-purchased-in-name-of-wife-Capital-Gain-Deduction-Agricultural-Land-Eligiblity-for-Capital-Gain-Deduction-taxscan.jpg "Agricultural Land purchased in Name of Wife Eligible for Capital Gain Deduction u/s 54B of Income Tax Act: ITAT [Read Order]")
Agricultural Land purchased in Name of Wife Eligible for Capital Gain Deduction u/s 54B of Income Tax Act: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the agricultural land purchased in the name of the wife is eligible for capital...
![Land Sold by Assessee is Agricultural Land and doesnt qualify as Capital Asset in terms of Section 2(14)(iii) of Income Tax Act : ITAT Sets aside Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Land-Sold-Assessee-Agricultural-Land-Capital-Asset-Income-Tax-Act-ITAT-Sets-aside-Income-Tax-TAXSCAN.jpg "Land Sold by Assessee is Agricultural Land and doesnt qualify as Capital Asset in terms of Section 2(14)(iii) of Income Tax Act : ITAT Sets aside Income Tax Addition [Read Order]")
![Assessment Order passed without examining Taxability of Agricultural Land sold by assessee: ITAT upholds Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Assessment-Order-Taxability-Agricultural-Land-assessee-ITAT-taxscan.jpg "Assessment Order passed without examining Taxability of Agricultural Land sold by assessee: ITAT upholds Revision Order [Read Order]")
![FMV of Agricultural Land to be Determined according to the Guidelines of the FY in which assessee Received Entire Amount of Sale Consideration: ITAT Dismisses Revenue Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/FMV-of-Agricultural-Land-to-be-Determined-according-Guidelines-of-the-FY-in-which-assessee-Received-Entire-Amount-of-Sale-Consideration-ITAT-Dismisses-Revenue-Appeal-TAXSCAN.jpg "FMV of Agricultural Land to be Determined according to the Guidelines of the FY in which assessee Received Entire Amount of Sale Consideration: ITAT Dismisses Revenue Appeal [Read Order]")
![Income Tax Addition u/s 68 of Income Tax Act without giving Opportunity to Assessee for Cross Examination of Third Person: ITAT orders Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-Tax-Income-Tax-Act-Opportunity-Assessee-Cross-Examination-Third-Person-ITAT-Fresh-Adjudication-TAXSCAN.jpg "Income Tax Addition u/s 68 of Income Tax Act without giving Opportunity to Assessee for Cross Examination of Third Person: ITAT orders Fresh Adjudication [Read Order]")
Compulsory Acquisition of Agricultural Land will not Attract Capital Gains which Chargeable to Tax: ITAT [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that the compulsory acquisition of agricultural land will not attract the capital gains which was chargeable to tax calculation. ...
![Compulsory Acquisition of Agricultural Land will not Attract Capital Gains which Chargeable to Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Compulsory-Acquisition-of-Agricultural-Land-Capital-Gains-which-Chargeable-to-Tax-ITAT-TAXSCAN.jpg "Compulsory Acquisition of Agricultural Land will not Attract Capital Gains which Chargeable to Tax: ITAT [Read Order]")
Deduction u/s 54B of IT Act shall not be disallowed, if Agriculture Land convert to Non-Agriculture just before Transfer of Land to Seller: ITAT [Read Order]
The Surat bench of Income Tax Appellate Tribunal (ITAT) has recently held that deduction under Section 54B of Income Tax Act 1961 should not be disallowed if agricultural land is converted to...
![Deduction u/s 54B of IT Act shall not be disallowed, if Agriculture Land convert to Non-Agriculture just before Transfer of Land to Seller: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Deduction-IT-Act-Income-Tax-Agriculture-Land-convert-to-Non-Agriculture-Transfer-of-Land-to-Seller-ITAT-taxscan.jpg "Deduction u/s 54B of IT Act shall not be disallowed, if Agriculture Land convert to Non-Agriculture just before Transfer of Land to Seller: ITAT [Read Order]")
Sale Consideration of Agricultural Land Assessed to Tax without Adjusting the Cost of Acquisition: Delhi HC dismisses Petition, Directs to Seek Statutory Remedy [Read Order]
The Delhi High Court directed to seek statutory remedy on the allegation that the sale consideration of agricultural land was assessed to tax without adjusting the cost of acquisition. Om Parkash,...
![Sale Consideration of Agricultural Land Assessed to Tax without Adjusting the Cost of Acquisition: Delhi HC dismisses Petition, Directs to Seek Statutory Remedy [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Sale-Consideration-of-Agricultural-Land-Sale-Consideration-Agricultural-Land-Tax-Adjusting-the-Cost-of-Acquisition-Cost-of-Acquisition-Delhi-HC-dismisses-Petition-Delhi-High-Court-taxscan.jpg "Sale Consideration of Agricultural Land Assessed to Tax without Adjusting the Cost of Acquisition: Delhi HC dismisses Petition, Directs to Seek Statutory Remedy [Read Order]")
Income Arising from Sold Land Established as Agricultural Land cannot be Treated as Capital Asset: ITAT [Read Order]
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...
![Income Arising from Sold Land Established as Agricultural Land cannot be Treated as Capital Asset: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Arising-from-Sold-Land-Established-Agricultural-Land-Treated-as-Capital-Asset-ITAT-TAXSCAN.jpg "Income Arising from Sold Land Established as Agricultural Land cannot be Treated as Capital Asset: ITAT [Read Order]")
No addition can be made u/s 69AÂ of Income Tax Act on cash received on sale of Ancestral Agricultural Land: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has recently held that no addition could be made under Section 69 of Income Tax Act 1961, on cash received on sale of ancestral...
![No addition can be made u/s 69AÂ of Income Tax Act on cash received on sale of Ancestral Agricultural Land: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Tax-Act-cash-received-sale-of-Ancestral-Agricultural-Land-sale-Ancestral-Agricultural-Land-Income-Tax-ITAT-taxscan.jpg "No addition can be made u/s 69AÂ of Income Tax Act on cash received on sale of Ancestral Agricultural Land: ITAT [Read Order]")
Agricultural Land is Not Capital Asset u/s 2(14)(iii)(b) of Income Tax Act, No Capital Gain: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Jaipur Bench, has recently, in an appeal filed before it, held that there is no capital gain in case of agricultural land as the same is not a capital...
![Agricultural Land is Not Capital Asset u/s 2(14)(iii)(b) of Income Tax Act, No Capital Gain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Agricultural-Land-Capital-Asset-Income-Tax-Act-Income-Tax-Tax-Capital-Gain-ITAT-Taxscan.jpg "Agricultural Land is Not Capital Asset u/s 2(14)(iii)(b) of Income Tax Act, No Capital Gain: ITAT [Read Order]")