Assessing Officer’s unverified classification of agricultural land as a non-capital asset warrants a de novo assessment.
Assessing Officer’s unverified classification of agricultural land as a non-capital asset warrants a de novo assessment. Issue Whether the assessment treating the sale proceeds of agricultural land as long-term capital gains based solely on an Inspector’s field enquiry—without placing official Revenue reports on record—warrants a fresh, de novo examination by the Assessing Officer when contradictory… Read More »