Income from Agricultural Land is not subject to Capital Gains Tax u/s 2(14) Income Tax Act : ITAT [Read Order]

The tribunal, through its decision, reaffirmed the non-taxability of income from the sale of agricultural land under section 2(14) of the Income Tax Act
By Varda Marakkar - On August 8, 2024 12:12 pm - 3 mins read
ITAT - ITAT Jaipur - Income Tax - Agricultural land capital gains tax - capital gains tax - tax on agricultural income - taxscan

In a recent case the Income Tax Appellate Tribunal ( ITAT ) of Jaipur ruled in favour of appellant seeking deletion of addition made to his income. Rajendra Kumar Meena, the appellant/assessee,  was found to have deposited Rs. 58,00,000 in cash into his bank account during the financial year 2013-14. This amount was not declared…

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