Land qualifies as agricultural land or not needs more verification: Matter remanded

Snehlata Goel Vs DCIT (ITAT Mumbai) ITAT Mumbai held that issue of whether the land is an agricultural land or not needs more verification since department has not tested required conditions as prescribed u/s. 2(14)(iii). Accordingly, matter remitted back to AO. Facts- During scrutiny assessment, AO noticed that the assessee has sold a land for a consideration of Rs. 5,20,00,000/- and assessee has claimed the capital gain arising out of the sale as exempt stating that land sold is an agricultural land. Post assessment, AO concluded that the land sold by the assessee is not an agricultural lan...