The assessee \u00a0sold the agricultural land \u00a0and claimed the sale consideration is exempt tax \u00a0as the property sold was used for the agricultural purposes . \u00a0The assessee \u00a0contended \u00a0that the 7\/12 extract (land revenue record) indicated that this land was used for agricultural purpose . \u00a0The Assessing Officer\u00a0 , CIT(A)\u00a0 and the Income Tax Appellate Tribunal \u00a0have recorded concurrent findings of facts that the land in question was not used for any agricultural purpose and therefore, the income derived from sale of\u00a0 land is chargeable to tax. On appeal the Court held that\u00a0 merely on the basis of \u00a0self- serving ledger entries , cannot be basis to treat the sale of land as agricultural land . On the facts the \u00a0property was sold before starting agricultural activity . The Court also held the assessee has\u00a0 failed to file affidavit under Rule 10 of the Income Tax (Appellate Tribunal) Rules, 1963, pointing out that none of the \u00a0findings were contrary to the evidence on record or that the Commissioner or other authorities had grossly misread the documents on record. Accordingly the High Court held that no substantial question of law \u00a0and the order of the Tribunal is affirmed .( ITA No.2011 of 2018 dt. 13 -2 -2025)<\/p>\n","protected":false},"excerpt":{"rendered":"
S.2(14)(iii): Capital asset-Agricultural land-Land is not used for agricultural purposes – Self- serving ledger entries- Property was sold before starting agricultural activity – Failed to file affidavit under Rule 10 of the Income Tax (Appellate Tribunal) Rules, 1963, pointing out that none of the Commissioner\u2019s findings were contrary to the evidence on record or that the Commissioner or other authorities had grossly misread the documents on record- No substantial question of law \u2013 Order of Tribunal is affirmed . [ S. 45 , 260A , ITAT Rules , 1963 R. 10 .] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-51249","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dkB","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=51249"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51249\/revisions"}],"predecessor-version":[{"id":51250,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51249\/revisions\/51250"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=51249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=51249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=51249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}