https://www.taxtmi.com/caselaws?id=207746 HC held that, for determining whether agricultural land is a "capital asset" under s. 2(14) of the Income-tax Act, the distance from the municipal limits must be measured by the approach road, not by straight-line or "as-the-crow-flies" distance. Measuring by crow's flight ignores the extent of urbanization, contrary to the statutory scheme and relevant notification. Applying the principle of consistency and noting earlier decisions, HC upheld the Tribunal's view that the land lay beyond the prescribed distance and was not a capital asset. Appeals were dismissed in favour of the assessee. en-us Thu, 07 Jan 2010 00:00:00 +0530 Thu, 27 Nov 2025 15:21:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207746 HC held that, for determining whether agricultural land is a "capital asset" under s. 2(14) of the Income-tax Act, the distance from the municipal limits must be measured by the approach road, not by straight-line or "as-the-crow-flies" distance. Measuring by crow's flight ignores the extent of urbanization, contrary to the statutory scheme and relevant notification. Applying the principle of consistency and noting earlier decisions, HC upheld the Tribunal's view that the land lay beyond the prescribed distance and was not a capital asset. Appeals were dismissed in favour of the assessee. Case-Laws Income Tax Thu, 07 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207746