https://www.taxtmi.com/caselaws?id=254256 The tribunal ruled in favor of the assessee, determining that the land was not a capital asset and therefore not subject to capital gains tax. The tribunal upheld the decision to measure the distance by road from the nearest municipality, which was Gurgaon, and not consider aerial distance. Additionally, the tribunal held that the distance should be measured up to the land itself, not the village. The Revenue's appeal challenging the taxability of forfeited advance money was dismissed due to the relevant tax provision not being applicable for the assessment year 2006-07. en-us Fri, 12 Dec 2014 00:00:00 +0530 Wed, 17 Dec 2014 10:41:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254256 The tribunal ruled in favor of the assessee, determining that the land was not a capital asset and therefore not subject to capital gains tax. The tribunal upheld the decision to measure the distance by road from the nearest municipality, which was Gurgaon, and not consider aerial distance. Additionally, the tribunal held that the distance should be measured up to the land itself, not the village. The Revenue's appeal challenging the taxability of forfeited advance money was dismissed due to the relevant tax provision not being applicable for the assessment year 2006-07. Case-Laws Income Tax Fri, 12 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254256