Court Rules Stadium Land Not Agricultural, Denies Capital Gains Tax Exemption u/s 2(14) of Income Tax Act.

Court Rules Stadium Land Not Agricultural, Denies Capital Gains Tax Exemption u/s 2(14) of Income Tax Act. https://www.taxtmi.com/highlights?id=20311 Capital asset u/s 2(14) - Claim of exemption of capital gains on sale of land – nature of land – Agricultural or not – land was used for conducting football tournament and they themselves described the land in the conveyance deed as stadium land - not the agriculture land - HC en-us Sat, 11 Oct 2014 10:17:35 +0530 Sat, 11 Oct 2014 10:17:35 +0530 TaxTMI RSS Generator Court Rules Stadium Land Not Agricultural, Denies Capital Gains Tax Exemption u/s 2(14) of Income Tax Act. https://www.taxtmi.com/highlights?id=20311 Capital asset u/s 2(14) - Claim of exemption of capital gains on sale of land – nature of land – Agricultural or not – land was used for conducting football tournament and they themselves described the land in the conveyance deed as stadium land - not the agriculture land - HC Highlights Income Tax Sat, 11 Oct 2014 10:17:35 +0530 https://www.taxtmi.com/highlights?id=20311