Capital asset classification of agricultural land near municipalities alters capital gains chargeability depending on notification timing. Agricultural land situated in areas notified as within eight kilometres of municipal or cantonment local limits is included in the definition of capital asset, effective from 1 April 1970; transfers of such land effected after 1 April 1970 but before 6 February 1973 are not chargeable as capital gains because a later notification of 6 February 1973 is prospective, while transfers on or after 6 February 1973 are chargeable under the head Capital Gains.