No Capital Gains Tax on Sale of Agricultural Land Beyond Municipal Limits: ITAT Ahmedabad

ACIT Vs Ahmed Mahomed Pandor (ITAT Ahmedabad) The Income Tax Appellate Tribunal (ITAT), Ahmedabad, adjudicated cross-appeals filed by both the Revenue and the assessee against the order of the Commissioner of Income Tax (Appeals) dated 06.06.2025 for Assessment Year 2016–17. The matter arose from reassessment proceedings initiated after the Assessing Officer (AO) received information that the assessee had sold two immovable properties during the relevant year. The assessee initially did not file a return but later filed one in response to notice under Section 148, declaring income from other...