https://www.taxtmi.com/caselaws?id=331854 The High Court upheld the decisions of the CIT(A) and ITAT, confirming that the land sold by the assessee was agricultural and situated more than 8 kilometers from Avadi Municipality. The court ruled that the distance should be measured by the approach road, not by straight line or aerial distance. The court also affirmed that the amendment to Section 2(14)(iii)(b) does not apply retroactively. Consequently, the appeal by the revenue was dismissed, and the profit from the sale of the land was not liable to capital gains tax. en-us Wed, 03 Aug 2016 00:00:00 +0530 Sat, 03 Sep 2016 09:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331854 The High Court upheld the decisions of the CIT(A) and ITAT, confirming that the land sold by the assessee was agricultural and situated more than 8 kilometers from Avadi Municipality. The court ruled that the distance should be measured by the approach road, not by straight line or aerial distance. The court also affirmed that the amendment to Section 2(14)(iii)(b) does not apply retroactively. Consequently, the appeal by the revenue was dismissed, and the profit from the sale of the land was not liable to capital gains tax. Case-Laws Income Tax Wed, 03 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331854