Cost of improvement of agricultural land under the Income Tax Act, 1961

Last updated: 22 July 2021
Quick Summary
This case concerns the cost of improving agricultural land and its impact on calculating long-term capital gains tax. The Income Tax Appellate Tribunal reviewed an appeal where the assessee claimed a deduction for improvement costs on land sold. The Tribunal noted a previous ruling by a co-ordinate bench allowing 50% of such improvement costs for a co-owner in a similar situation.

Court :
ITAT Ahmedabad

Brief :
This assessee’s appeal for A.Y. 2011-12, arises from order of the CIT(A)-11, Ahmedabad dated 04-03-2016, in proceedings under section 143(3) r.w.s. 153A of the Income Tax Act, 1961; in short “the Act”. 

Citation :
ITA No. 1676 /Ahd/2016

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1 Year PLAN
1999
(Excl. of GST ₹359)

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2 Years PLAN
3499
(Excl. of GST ₹629)

3 Months PLAN
999
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