14 February 2022
Dear Expert ! My client purchased aguriculture land in 2005 and sold in Oct. 2013 and aguriculture product, say rice was used by him for own family. As per census 2011 , population of village is 1400 having panchayat and village is far war away from municipal board about 28 km arially of which population of was about 66000 as per 2011 cenusu, he has claimed it is not a capital assets and cannot be taxed. is it correct ? pl advise.
14 February 2022
Sir case is under scrutiny 148 and 148 is issued 29.6.21 and we have raised objection since failed to follow amendment sec.148A to 151 and high courts have quessed notice.matter is pending with SC but We want to keep update ourselves
CAclubindia
