https://www.taxtmi.com/caselaws?id=5374 Agricultural land situated within the jurisdiction of a municipality with the requisite population is treated as falling outside the rural land exclusion in section 2(14)(iii)(a) of the Income-tax Act, because the population test attaches to the municipal area and not to a village unit within municipal limits; the land is therefore a capital asset. On requisitioned property, the operative date of vesting and transfer of title is the date of publication of the notification under section 7(2) of the Requisitioning and Acquisition of Immovable Property Act, 1952, since that is the statutory event that makes vesting absolute in the Central Government and ends requisition. The text states that capital gains tax treatment was upheld on that basis. en-us Wed, 28 Aug 1991 00:00:00 +0530 Mon, 08 Dec 2025 15:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5374 Agricultural land situated within the jurisdiction of a municipality with the requisite population is treated as falling outside the rural land exclusion in section 2(14)(iii)(a) of the Income-tax Act, because the population test attaches to the municipal area and not to a village unit within municipal limits; the land is therefore a capital asset. On requisitioned property, the operative date of vesting and transfer of title is the date of publication of the notification under section 7(2) of the Requisitioning and Acquisition of Immovable Property Act, 1952, since that is the statutory event that makes vesting absolute in the Central Government and ends requisition. The text states that capital gains tax treatment was upheld on that basis. Case-Laws Income Tax Wed, 28 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5374