Profit from sale of agricultural land not includible while computing book profit

Ishwar Dewllings Pvt. Ltd. Vs PCIT (ITAT Lucknow)

Facts- The AO vide notice u/s 154 dated 02/05/2018 proposed rectification of the order passed u/s 143(3) by including profit on sale of agricultural land in the computation of book profits u/s 115JB. Thereafter, AO dropped the proceedings initiated u/s 154 vide order dated 14/06/2018.

However, the assessee filed the appeal aggrieved against the order of the Commissioner of Income Tax (CIT). The Counsel for appellant, Shweta Mittal submitted that CIT gr

Please become a Premium member. If you are already a Premium member, login here to access the full content.