Thursday, January 16, 2020

Exemption to Agricultural Lands bought when not for any Business purposes allowed: ITAT [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) in the case of DCIT v Kushal Infra project Industries allowed exemption on agricultural lands bought without an intention to purchase the land for any business purposes. The Bench constituting of B.R.R. Kumar and Bhavnesh Saini as Accountant and Judicial Members respectively held the following: AO […]

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