https://www.taxtmi.com/caselaws?id=257210 For capital gains purposes, the character of land must be determined on the relevant date by assessing the totality of circumstances, including revenue records, actual agricultural use, surrounding features, and whether any presumption of agricultural character is rebutted by material evidence. Mere development notification, future non-agricultural potential, or the acquiring authority's intended use is not decisive. On the available record, the factual material had not been properly examined, so the matter was remanded to the Assessing Officer for de novo verification of the assessee's documents and the land's true agricultural nature before deciding taxability and exemption under section 10(37). en-us Fri, 13 Feb 2015 00:00:00 +0530 Thu, 05 Mar 2015 08:40:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257210 For capital gains purposes, the character of land must be determined on the relevant date by assessing the totality of circumstances, including revenue records, actual agricultural use, surrounding features, and whether any presumption of agricultural character is rebutted by material evidence. Mere development notification, future non-agricultural potential, or the acquiring authority's intended use is not decisive. On the available record, the factual material had not been properly examined, so the matter was remanded to the Assessing Officer for de novo verification of the assessee's documents and the land's true agricultural nature before deciding taxability and exemption under section 10(37). Case-Laws Income Tax Fri, 13 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257210