Agriculture harvester which is used for agri purposes

srinu (accountant) (87 Points)

21 February 2017  

one agriculturist purchased harvester for his agriculture use, after 3 years he sold, for this , cheques were received and the department issued notice transaction exeed limit, my point is is it taxed as capital gain tax, if it is treated as agrirelated equipment, no tax on this . please clarify elobrately