https://www.taxtmi.com/caselaws?id=326832 The Tribunal ruled in favor of the assessee, determining that the agricultural land sold did not qualify as a capital asset under Section 2(14) of the Income Tax Act, 1961. As the land was beyond 8 km from the municipal limits at the time of notification, no capital gain was recognized. Consequently, the appeal was allowed, and other issues regarding deductions and expenses were not addressed. The decision was announced on 18/03/2016. en-us Fri, 18 Mar 2016 00:00:00 +0530 Tue, 26 Apr 2016 10:27:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326832 The Tribunal ruled in favor of the assessee, determining that the agricultural land sold did not qualify as a capital asset under Section 2(14) of the Income Tax Act, 1961. As the land was beyond 8 km from the municipal limits at the time of notification, no capital gain was recognized. Consequently, the appeal was allowed, and other issues regarding deductions and expenses were not addressed. The decision was announced on 18/03/2016. Case-Laws Income Tax Fri, 18 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326832