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Section 10(37) applicable to acquisition of agricultural land by Government
Case Law Details
- Case Name
- ITO Vs Jitendra Shanabhai Patel (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Ahmedabad
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ITO Vs Jitendra Shanabhai Patel (ITAT Ahmedabad)
CIT(A) observed that there was no large number of purchase and sale of land by the assessee. In fact, the acquisition of agricultural land owned by the assessee was done by the Government and thus Section 10(37) of the Act are attracted.
As regards consideration of the rural agricultural land acquired by Government for business activity under section 2 (13) of the Act, the same cannot be treated as the adventure in trade. The CIT(A) has given proper finding to that effect.
FULL TEXT OF THE ORDER OF ITAT AHMEDABAD
This appeal is filed by the Rev...
