https://www.taxtmi.com/caselaws?id=325966 The Tribunal found that the land sold by the assessee was beyond 8 kilometers from the Rajahmundry municipal limits, based on a certificate from the R&B Department. As a result, the land did not qualify as a 'capital asset' under section 2(14) of the Income Tax Act, 1961, and the gains from its sale were deemed non-taxable. Similar appeals were also allowed by the Tribunal, leading to the conclusion that the assessee's appeal was successful, and the gains were not subject to taxation. en-us Wed, 02 Mar 2016 00:00:00 +0530 Sat, 02 Apr 2016 10:43:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325966 The Tribunal found that the land sold by the assessee was beyond 8 kilometers from the Rajahmundry municipal limits, based on a certificate from the R&B Department. As a result, the land did not qualify as a 'capital asset' under section 2(14) of the Income Tax Act, 1961, and the gains from its sale were deemed non-taxable. Similar appeals were also allowed by the Tribunal, leading to the conclusion that the assessee's appeal was successful, and the gains were not subject to taxation. Case-Laws Income Tax Wed, 02 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325966