https://www.taxtmi.com/caselaws?id=332597 The High Court upheld the decision of the ITAT, ruling in favor of the assessee that the land sold qualified as agricultural land and was situated more than 8 km from the nearest municipality. The Court emphasized that distance should be measured by road, not in a straight line, and that the 2014 amendment to Section 2(14)(iii)(b) of the Income Tax Act could not be applied retrospectively. The appeal by the revenue was dismissed, and the Court sided with the assessee on the legal issues presented. en-us Wed, 27 Jul 2016 00:00:00 +0530 Thu, 02 Feb 2017 17:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332597 The High Court upheld the decision of the ITAT, ruling in favor of the assessee that the land sold qualified as agricultural land and was situated more than 8 km from the nearest municipality. The Court emphasized that distance should be measured by road, not in a straight line, and that the 2014 amendment to Section 2(14)(iii)(b) of the Income Tax Act could not be applied retrospectively. The appeal by the revenue was dismissed, and the Court sided with the assessee on the legal issues presented. Case-Laws Income Tax Wed, 27 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332597