Home Highlights March 2017 Year 2017 This

You may also like:

1. Agricultural income or not - Since no agricultural income has been shown by assessee’s husband in this year, the entire income has been considered as ‘income from other...

2. Exemption on agricultural income - firm is not the owner of such agricultural land but the partners - assessee firm though not being the owner of the agricultural land...

3. Capital gain - Nature of land - Sale of agricultural land – There is no requirement in any Act more especially the I.T. Act that only the self-cultivated land will be...

4. Capital gain on sale of land - Nature of land - it is undisputed fact that assessee has sold agricultural land on which he was carrying out agricultural activities prior...

5. Gains arising on sale of Agricultural land – Assessee might not have paid agricultural income-tax but is paying land revenue and village records clearly showed the land...

6. Agricultural income - When all the documents have been brought on record by the assessee during assessment proceedings but not examined by the AO assessee cannot put...

7. Income from land as agricultural income or business income – AO's contention that the assessee cannot own agricultural land, as per the Karnataka Land Reforms Act, 1961,...

8. Addition to income from capital gains - Nature of land sold - Anyhow, to meet the ends of natural justice, we direct the assessee to file complete sale deeds of the...

9. The Kerala High Court disallowed interest expense claimed by the appellant u/s 36 of the Income Tax Act as it was incurred on a loan used to purchase agricultural land...

10. Income from undisclosed sources - addition of agricultural income - Assessment of agricultural income declared by the assessee for various assessment years was...

11. Exemption u/s 10(1) - Agricultural Income or not - A.O. held that the portion relating to other than supply of plants and saplings cannot be characterized as...

12. The ITAT Bangalore, in a case involving unexplained money u/s. 69A, addressed deposits in a bank account during the demonetisation period. The DR argued that the...

13. The assessee sold agricultural land during the year which the Assessing Officer (AO) treated as a capital asset, leading to levy of long-term capital gains tax. The...

14. Gain on sale of land - Nature of land - agricultural land or capital asset or business receipts - Simply showing the land in the balance sheet as an investment is not...

15. Disallowance of agricultural income - the agricultural sector continues to remain unorganized and the agricultural produces are sold in an unregulated market -...