https://www.taxtmi.com/caselaws?id=174354 The appeals by the Revenue, concerning the levy of short term capital gains on the sale of agricultural land, were dismissed. The lands in question were found to be situated more than 8 kilometers from the outer limits of Gurgaon, thus not considered capital assets and exempt from tax. The Tribunal upheld the decision of the Commissioner of Income-tax (Appeals) to grant relief to the assessees, as there was no evidence to support the Assessing Officer's suspicions regarding the proximity of the lands to Gurgaon's municipal limits. en-us Tue, 31 Jan 2012 00:00:00 +0530 Wed, 07 Oct 2015 10:46:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174354 The appeals by the Revenue, concerning the levy of short term capital gains on the sale of agricultural land, were dismissed. The lands in question were found to be situated more than 8 kilometers from the outer limits of Gurgaon, thus not considered capital assets and exempt from tax. The Tribunal upheld the decision of the Commissioner of Income-tax (Appeals) to grant relief to the assessees, as there was no evidence to support the Assessing Officer's suspicions regarding the proximity of the lands to Gurgaon's municipal limits. Case-Laws Income Tax Tue, 31 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174354