- I Paid A Bribe
- 4 years ago
- 3327 views
Land sale
- Income Tax
- Paid INR 50,000
I sold an agricultural land in Lonavala in Jul 2016 for Rs.40 Lacs. I mentioned it in my IT returns as agricultural income. I got a notice under 143(2) to explain this income of 40 lacs. I uploaded the agreement copy. However there was no communication from IT till December 2019. I was asked produce documents proving that it is an agricultural land without giving me sufficient n time.. I produced whatever docs I had. However the officer concerned was not satisfied with the explanation and pressured me that he can declare the land as non agricultural and demand heavy tax, fine and penalty running into few lacs and also told me that the notice will be time barred by 31 Dec and he will take whatever decision by that time.