SHRI KANAV KHANNA,,AMRITSAR. vs. THE ASSTT. COMMISSIONER OF INCOME-TAX,, AMRITSAR.
In the result, the ground no- G of appeal of the assessee is dismissed
ITA 77/ASR/2015[2010-11]Status: DisposedITAT Amritsar04 Jul 2022AY 2010-11
Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee
For Appellant: Sh. R. K. Magow, CAFor Respondent: Sh. Rahul Dhawan, CIT-DR
Section 10(37)Section 143(2)Section 143(3)Section 194LSection 250(6)
disallowed 70%
of the value of the land received as taxable income and will not come under the
exemption under provisions of 10(37) of the Act. Accordingly, value of land
amount to Rs.5,12,87,411/- is added back with the total income of the assessee for
the amount received from sale non-agricultural land under LTCG
