On-money received on sale of agricultural land, even when not declared, is also exempt & cannot be taxed

ACIT Vs Kamlesh Kumar Rathi (ITAT Delhi) On-money received on sale of agricultural land, even when not declared, is also exempt & cannot be taxed   The dispute relates to  addition made on account of on money/ undisclosed income, arising out of sale of agricultural land. Search and seizure operation u/s. 132 was conducted in case of the assessee. In response to notices issued u/s. 153A assessee filed his return of income. Subsequently, assessee filed revised returns of income for both the assessment years under dispute, by enhancing the sale consideration received on sale of land.  In c...