Burden Is On Assessee To Show Entitlement For Capital Gains Tax Exemption On Sale Of Agricultural Land: Kerala High Court

The Kerala High Court has ruled that the burden of proof lies on the assessee who claims entitlement to capital gains tax exemption on the sale of agricultural land. The court clarified that taxpayers must provide sufficient evidence to establish the agricultural status of the land. This decision highlights the importance of maintaining proper records and understanding the tax implications of land transactions.