Daily Archives: June 1, 2026

Co-owned land retained agricultural status making capital gains, stamp valuation, and cash additions unsustainable Issue Whether land sold by a co-owner retains its character as agricultural land outside the scope of a “capital asset” under Section 2(14) when robust documentary evidence confirms ongoing cultivation, and whether the Revenue can consequently invoke Section 50C for stamp… Read More »

Time Extended to Seek Reply Excludes from Limitation Period, Validating Revenue’s Reassessment Notice Issue Whether the time allowed or extended for an assessee to reply to a Section 148A(b) show cause notice must be excluded when computing the limitation period for issuing a reassessment notice, and whether a notice issued within 7 days of the… Read More »