https://www.taxtmi.com/caselaws?id=63835 The tribunal allowed the appeal filed by the assessee, ruling that the land in question was agricultural and not subject to capital gains tax. The tribunal found that the land was recorded as agricultural in Revenue records and accepted the assessee's explanation for non-cultivation due to international athletic commitments. Additionally, the land was situated beyond 5 kms from municipal limits, as confirmed by the Tehsildar's certificate and supported by CBDT Notification No. 9447. Consequently, the tribunal set aside the tax authorities' orders, concluding that the land was outside the purview of a capital asset. en-us Fri, 27 Jul 2007 00:00:00 +0530 Tue, 16 Jan 2024 09:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63835 The tribunal allowed the appeal filed by the assessee, ruling that the land in question was agricultural and not subject to capital gains tax. The tribunal found that the land was recorded as agricultural in Revenue records and accepted the assessee's explanation for non-cultivation due to international athletic commitments. Additionally, the land was situated beyond 5 kms from municipal limits, as confirmed by the Tehsildar's certificate and supported by CBDT Notification No. 9447. Consequently, the tribunal set aside the tax authorities' orders, concluding that the land was outside the purview of a capital asset. Case-Laws Income Tax Fri, 27 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63835