Kerala High Court rules that the taxpayer holds the burden to conclusively prove the land’s agricultural status to claim capital gains tax exemption
In a recent decision, the Kerala High Court ruled that the taxpayer has the burden of proof to establish the agricultural nature of land when claiming exemption from capital gains tax. The case involved the assessee, the late M.J. George, who was subsequently represented by his legal heirs. During the assessment year 2006-07, George sold…
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