2014 (6) TMI 3 - AT - Income Tax

Nature of piece of land sold - Difference in opinion - Held that - The majority was of the view that the piece of land sold is not a capital asset - Decided in favour of Assessee.

Summary

The Appellate Tribunal ITAT JODHPUR decided that a piece of land sold was not a 'capital asset'. Majority view favored the assessee, and the appeal was allowed. Order pronounced on 13th May, 2014.