The appeal of the assessee is allowed
Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha
capital gains on sale of agricultural land were not taxable, and accordingly reduced the default period to 12 months. The Revenue contended before the High Court that the Tribunal erred in accepting the assessee’s explanation for part of the delay. The Gujarat High Court, however, held that the existence of reasonable cause was a question of fact and that