![Disclosure of Sale of Agricultural Land in Return of Income during Scrutiny Assessment: Madras HC quashes Reassessment initiated beyond 4 Years [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Sale-of-Agricultural-Land-Scrutiny-Assessment-Return-of-Income-Reassessment-High-Court-taxscan.jpg "Disclosure of Sale of Agricultural Land in Return of Income during Scrutiny Assessment: Madras HC quashes Reassessment initiated beyond 4 Years [Read Order]")
Disclosure of Sale of Agricultural Land in Return of Income during Scrutiny Assessment: Madras HC quashes Reassessment initiated beyond 4 Years [Read Order]
The Madras High Court quashed reassessment initiated beyond 4 years on the disclosure of sale of agricultural land in the return of income during...
![Consideration from Sale of Agricultural Land not Taxable as ‘capital Gains’: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Consideration-from-Sale-of-Agricultural-Land-Consideration-Sale-of-Agricultural-Land-ITAT-deletes-Addition-capital-Gains-Agricultural-Land-not-Taxable-Income-Tax-ITAT-taxscan.jpg "Consideration from Sale of Agricultural Land not Taxable as ‘capital Gains’: ITAT deletes Addition [Read Order]")
![Purchase made out of Advance of Agricultural Property Sale Deductible u/s 54B: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Purchase-Agricultural-Property-Sale-Agricultural-Property-Agricultural-Property-Sale-Deductible-ITAT-Income-Tax-taxscan.jpg "Purchase made out of Advance of Agricultural Property Sale Deductible u/s 54B: ITAT [Read Order]")
![Sale of Agricultural Land does not amount to Capital Gain: ITAT allows Tax Exemption [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Sale-of-agricultural-land-capital-gain-exemption-ITAT-Taxscan.jpg "Sale of Agricultural Land does not amount to Capital Gain: ITAT allows Tax Exemption [Read Order]")
![Profit from Sale of Agricultural Land, not a Capital Asset, cannot be included while computing Book Profit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Profit-sale-of-agricultural-land-capital-asset-computing-book-profit-ITAT-Taxscan.jpg "Profit from Sale of Agricultural Land, not a Capital Asset, cannot be included while computing Book Profit: ITAT [Read Order]")
Cash Deposit arising out of Sale of Agricultural Land cannot be treated as Unexplained: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench, while allowing an appeal of the assessee, held that the cash deposit arising out of sale of agricultural land cannot be treated as unexplained...
![Cash Deposit arising out of Sale of Agricultural Land cannot be treated as Unexplained: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Cash-Deposit-Sale-of-Agricultural-Land-Unexplained-ITAT-Taxscan.jpg "Cash Deposit arising out of Sale of Agricultural Land cannot be treated as Unexplained: ITAT [Read Order]")
Sale of Agricultural Land is Exempt from Tax though there were No Agricultural Activities: ITAT [Read Order]
The Hyderabad Bench of the Income Tax Appellate Tribunal ( ITAT ) in the case of Shri Kallepu Sharath Chander v. Asstt. Commissioner of Income Tax, Hyderabad held that the sale of Agricultural Land is...
![Sale of Agricultural Land is Exempt from Tax though there were No Agricultural Activities: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Agricultural-Land.jpg "Sale of Agricultural Land is Exempt from Tax though there were No Agricultural Activities: ITAT [Read Order]")
Receipt from Sale of Agricultural Land after developing into Plots is Business Income: ITAT [Read Order]
The Jaipur bench of the Income Tax Appellate Tribunal, on Thursday held that the sale of agricultural land after developing the same into different plots is subject to tax as ‘Business Income’ under...
No Penalty If Assessee Discloses Transaction of Sale of Agricultural Land in the hands of assessee’s HUF as the Property was Ancestral: ITAT [Read Order]
Indore bench of Income Tax Appellate Tribunal (ITAT) deleted the penalty imposed by the Assessing Officer (AO) by considering the fact that the assessee conceded the transaction of Sale of...
![No Penalty If Assessee Discloses Transaction of Sale of Agricultural Land in the hands of assessee’s HUF as the Property was Ancestral: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Agricultural-Land.jpg "No Penalty If Assessee Discloses Transaction of Sale of Agricultural Land in the hands of assessee’s HUF as the Property was Ancestral: ITAT [Read Order]")
ITAT confirms Addition under the head “Other Income” since Assessee understated Sale Value of Agricultural Land to avoid payment of Stamp Duty [Read Order]
While hearing the case of ACIT vs Sh. Mohinder Singh, ITAT Chandigarh confirmed addition since assessee has understated sale consideration of agricultural land to avoid payment of stamp duty. While...
![ITAT confirms Addition under the head “Other Income” since Assessee understated Sale Value of Agricultural Land to avoid payment of Stamp Duty [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/12/Sale-of-Land-Taxscan.jpg "ITAT confirms Addition under the head “Other Income” since Assessee understated Sale Value of Agricultural Land to avoid payment of Stamp Duty [Read Order]")
On-Money/Unaccounted Money Received on Account of Sale of Agricultural Land is not Taxable: ITAT Cochin [Read Order]
ITAT says “Payment of on-money is an unfortunate practice and none can deny this factual situation” – therefore, contention of the assessee cannot be totally brushed aside. In ITO v. Abraham...