Case Law Details
Case Name : ITO Vs Jitendra Shanabhai Patel (ITAT Ahmedabad)
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 give
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