Profits from Sale of Agricultural Land Exempt from Tax as Per Income Tax Act Sections 2(1A)(a), 2(14)(iii), 10(1).

Assessee's gains were profits from sale of specified agricultural land which does not come within the definition of asset as prescribed under s. 2(14) and by virtue of s. 2(lA)(a) r/w s, 2(14)(iii) r/w s. 10(1) the assessee's gains from sale of such agricultural land are exempt income - AT .....

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