Taxpayer's Rural Land Sale Not a 'Capital Asset' Per Income Tax Act Section 2(14)(iii); No Capital Gains Tax.

Taxpayer's Rural Land Sale Not a 'Capital Asset' Per Income Tax Act Section 2(14)(iii); No Capital Gains Tax. https://www.taxtmi.com/highlights?id=13769 Agricultural land sold by the assessee is not a 'capital asset' since it is in rural area within the meaning of section 2(14)(iii), the impugned receipt cannot be brought to tax as capital gain by invoking section 54B. - AT en-us Thu, 08 Aug 2013 10:31:48 +0530 Thu, 08 Aug 2013 10:31:48 +0530 TaxTMI RSS Generator Taxpayer's Rural Land Sale Not a 'Capital Asset' Per Income Tax Act Section 2(14)(iii); No Capital Gains Tax. https://www.taxtmi.com/highlights?id=13769 Agricultural land sold by the assessee is not a 'capital asset' since it is in rural area within the meaning of section 2(14)(iii), the impugned receipt cannot be brought to tax as capital gain by invoking section 54B. - AT Highlights Income Tax Thu, 08 Aug 2013 10:31:48 +0530 https://www.taxtmi.com/highlights?id=13769