https://www.taxtmi.com/caselaws?id=253021 The Tribunal upheld the CIT(A)'s decision, ruling that the agricultural land sold was not subject to capital gains tax as it was situated beyond 8 KM from any municipality and maintained its agricultural character at the time of transfer. The appeal by the Revenue was dismissed, emphasizing the importance of the land's status at the time of sale and its classification in revenue records over the purchaser's intended use. The Tribunal's decision was issued on 24.10.2014. en-us Fri, 24 Oct 2014 00:00:00 +0530 Wed, 12 Nov 2014 08:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253021 The Tribunal upheld the CIT(A)'s decision, ruling that the agricultural land sold was not subject to capital gains tax as it was situated beyond 8 KM from any municipality and maintained its agricultural character at the time of transfer. The appeal by the Revenue was dismissed, emphasizing the importance of the land's status at the time of sale and its classification in revenue records over the purchaser's intended use. The Tribunal's decision was issued on 24.10.2014. Case-Laws Income Tax Fri, 24 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253021