Tag Archives: agricultural land

Sale of barren land within short duration could not be deemed sale of agricultural land, held as business activity

Facts of the Case :- Assessee purchased a piece of land used for rubber plantation .Subsequently, assessee sold said property through a broker. Assessee claimed that property sold was an agricultural land and, hence, profit arising on its sale was exempt from tax . Assessing Officer found that nature of property at time of registration… Read More »