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The SC upheld the HC's determination that the surplus arising from the sale of the agricultural land qualified as capital gains, not agricultural income, since the property was not used for agricultural purposes by the assessee. The Court found no error in the three authorities' evaluation of the material facts or in their legal approach. Consequently, the SC declined to interfere with the HC's judgment, dismissing the Special Leave Petition.
The SC upheld the HC's determination that the surplus arising from the sale of the agricultural land qualified as capital gains, not agricultural income, since the property was not used for agricultural purposes by the assessee. The Court found no error in the three authorities' evaluation of the material facts or in their legal approach. Consequently, the SC declined to interfere with the HC's judgment, dismissing the Special Leave Petition.
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