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Agricultural land not covered under ambit of Sec. 56(2)(vii)(b) if it is not capital assets u/s 2(14): ITAT

August 1, 2020[2020] 117 taxmann.com 828 (Pune - Trib.)
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INCOME TAX: Agricultural land purchased by assessee was not governed by provisions of section 56(2)(vii)(b) since said land was not capital asset as per section 2(14) and hence, no addition could be made in hands of assessee

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