Tax officials are cracking down on a sneaky trick where people buy farmland to hide "black money" (undeclared income). A recent court ruling—by the Income Tax Appellate Tribunal (ITAT)—could shut this down hard. The big deal? The court said agricultural land counts as an "immovable asset," meaning shady deals where land is bought dirt-cheap to launder money might not fly anymore. If higher courts agree, this could be a game-changer.

Editor’s Note: This isn’t just about paperwork—it’s about closing a loophole that’s been a go-to for hiding illicit cash. Farmland, often undervalued and loosely regulated, became a favorite tool for laundering. The ruling could force more transparency, making it tougher to disguise shady money as legitimate land deals. For regular folks? It signals tighter tax scrutiny, which could mean fewer backdoor schemes distorting real estate markets.