Agricultural land not covered under ambit of Sec. 56(2)(vii)(b) if it is not capital assets u/s 2(14): ITAT

INCOME TAX: Agricultural land purchased by assessee was not governed by provisions of section 56(2)(vii)(b) since said land was not capital asset as per section 2(14) and hence, no addition could be made in hands of assesseeINCOME TAX: Agricultural land purchased by assessee was not governed by provisions of section 56(2)(vii)(b) since said land was not capital asset as per section 2(14) and hence, no addition could be made in hands of assesseewww.taxmann.com Latest Case LawsRead More

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