ITAT Jabalpur Judgments — January 2023

The Tribunal held that certain omissions in the original order needed to be corrected. These corrections involve minor textual amendments to ensure accuracy and clarity in the judgment.

The Tribunal held that the subject land was not used for agricultural purposes in the relevant period and therefore, the exemption under Section 54B was not admissible. However, the disallowance of agricultural income was restored to the AO for fresh adjudication.

The Tribunal held that the disallowance of interest income from bank deposits by the Assessing Officer was without basis and directed its deletion. It also clarified that only income from specified activities under Section 80P(2)(a) is eligible for deduction.