Held that the assessee filed to provide any evidence to demonstrate that agricultural land sold was beyond 8 km from the outer limit of the Municipal corporation and also not satisfied the 13 tests laid down in the case of Sarifabibi Mohmed Ibrahim (Smt). v. CIT(1993) 70 taxmann.com 301/ 304 ITR 631 (SC). The matter is to be remanded back to Assessing Officer for the assessee to establish the same.
Greenboom Developers & Resorts Ltd. v. ITO (2022) 195 ITD 567 (Mum.)(Trib.)
S.2(14)(iii): Capital asset-Agricultural land-Failure to provide evidence-Matter remanded back to Assessing Officer for verification [S. 10(37), 45]