https://www.taxtmi.com/caselaws?id=182362 The appeal filed by the Revenue challenging the deletion of the addition of Long Term Capital Gain by the ld. CIT(Appeals) was dismissed. The Tribunal found that the lands in question were agricultural, as evidenced by the presence of agricultural operations and being located outside municipal limits. Despite later conversion into plots and construction of a high-rise building, the Tribunal upheld the decision that the lands were not subject to capital gain tax. en-us Fri, 24 Jun 2011 00:00:00 +0530 Mon, 09 May 2016 17:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182362 The appeal filed by the Revenue challenging the deletion of the addition of Long Term Capital Gain by the ld. CIT(Appeals) was dismissed. The Tribunal found that the lands in question were agricultural, as evidenced by the presence of agricultural operations and being located outside municipal limits. Despite later conversion into plots and construction of a high-rise building, the Tribunal upheld the decision that the lands were not subject to capital gain tax. Case-Laws Income Tax Fri, 24 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182362