https://www.taxtmi.com/caselaws?id=337857 The ITAT upheld the CIT(A)'s decision that the gain from the sale of agricultural lands was not an adventure in the nature of trade and therefore exempt from capital gains tax. The lands were deemed agricultural and situated beyond 8 kms from municipal limits, meeting the criteria for tax exemption. The Revenue's appeal was dismissed, affirming the CIT(A)'s order. en-us Wed, 11 Jan 2017 00:00:00 +0530 Thu, 19 Jan 2017 08:30:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337857 The ITAT upheld the CIT(A)'s decision that the gain from the sale of agricultural lands was not an adventure in the nature of trade and therefore exempt from capital gains tax. The lands were deemed agricultural and situated beyond 8 kms from municipal limits, meeting the criteria for tax exemption. The Revenue's appeal was dismissed, affirming the CIT(A)'s order. Case-Laws Income Tax Wed, 11 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337857