Tribunal held that the same certificate was accepted by the Assessing Officer in the case of the co-owner and allowed the exemption. The Tribunal held that there cannot be two reasons to evaluate the same set of facts of the same transaction in the hands of two assessees. Addition was set aside and allowed the exemption. (AY. 2012-13)
Balbir Singh Saini. v. ITO (2025) 213 ITD 669 (Delhi) (Trib.)
S.2(14)(iii): Capital asset-Agricultural land-Beyond 8 kms from municipal limits of Gurgaon and filed certificate from Nayab Tehsildar-Land could not be treated as a capital asset under section 2(14)-Accepted in co-owner-Not assessable as capital gains. [S. 2(14), 45]
Leave a Reply