https://www.taxtmi.com/caselaws?id=62911 Agricultural land in village Dera Mandi, Delhi was treated as falling within the phrase "land situate in any area which is comprised within the jurisdiction of a municipality" under section 2(14)(iii)(a) of the Income-tax Act because the expression was construed by reference to the territorial jurisdiction of the Municipal Corporation of Delhi, not by distinguishing urban from rural character. The provision was read harmoniously with section 2(14)(iii)(b) to reflect a legislative intent to tax agricultural land situated within municipal limits. The Tribunal view that rural areas within Delhi were excluded was held inconsistent with the Supreme Court's interpretation in G.M. Omer Khan, and the land was therefore held to be a capital asset. en-us Wed, 28 Feb 1996 00:00:00 +0530 Sat, 22 Jan 2011 15:13:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62911 Agricultural land in village Dera Mandi, Delhi was treated as falling within the phrase "land situate in any area which is comprised within the jurisdiction of a municipality" under section 2(14)(iii)(a) of the Income-tax Act because the expression was construed by reference to the territorial jurisdiction of the Municipal Corporation of Delhi, not by distinguishing urban from rural character. The provision was read harmoniously with section 2(14)(iii)(b) to reflect a legislative intent to tax agricultural land situated within municipal limits. The Tribunal view that rural areas within Delhi were excluded was held inconsistent with the Supreme Court's interpretation in G.M. Omer Khan, and the land was therefore held to be a capital asset. Case-Laws Income Tax Wed, 28 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62911