The Income Tax Appellate Tribunal (ITAT), Pune bench has held that the Jirayat land is cultivable land and therefore, can be treated as agricultural land for the purpose of granting exemption under the Income Tax Act, 1961. The assessee transferred “Jirayat land” for development. The department treated the land transferred as barren land. The Tribunal […]
The post Jirayat Land is Cultivable Land: ITAT grants Tax Exemption [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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