Tribunal held that if agricultural land does not fall in definition of capital asset, difference between district level committee value and sales consideration cannot be brought to tax. Matter remanded. (AY. 2014-15)
Prem Chand Jain v. ACIT (2020) 183 ITD 372/ 82 ITR 522/ 194 DTR 37/207 TTJ 629 (Jaipur)(Trib.)
S. 56 : Income from other sources-Capital asset-Agricultural land-If agricultural land does not fall in definition of capital asset, difference between district level committee value and sales consideration cannot be brought to tax-Matter remanded. [S. 2(14)(iii), 56(2)(vii)(b)]