https://www.taxtmi.com/caselaws?id=185357 Land sold by an assessee is not treated as agricultural land where the surrounding facts show urban character, a building yielding rent, only limited trees, and no reliable evidence that the tree income was agricultural. On that factual footing, the land falls within the definition of capital asset, so profits from its sale are assessable as capital gains under section 12B of the Indian Income-tax Act, 1922. The discussion also notes that the availability of statutory appellate and reference remedies makes writ jurisdiction inappropriate in such a tax dispute. en-us Fri, 14 Aug 1964 00:00:00 +0530 Wed, 10 Aug 2016 12:53:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185357 Land sold by an assessee is not treated as agricultural land where the surrounding facts show urban character, a building yielding rent, only limited trees, and no reliable evidence that the tree income was agricultural. On that factual footing, the land falls within the definition of capital asset, so profits from its sale are assessable as capital gains under section 12B of the Indian Income-tax Act, 1922. The discussion also notes that the availability of statutory appellate and reference remedies makes writ jurisdiction inappropriate in such a tax dispute. Case-Laws Income Tax Fri, 14 Aug 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185357