No addition can be made u/s 69A  of Income Tax Act on cash received on sale of Ancestral Agricultural Land: ITAT [Read Order]

By Aparna. M - On May 4, 2023 4:30 pm - 2 mins read
Income Tax Act - cash received - sale of Ancestral Agricultural Land - sale - Ancestral Agricultural Land - Income Tax - ITAT - taxscan

The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has recently held that no addition could be made under Section 69 of Income Tax Act 1961, on cash received on sale of ancestral agricultural land. Section 69A  of Income Tax Act states that in any financial year the assessee is found to be the…

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