https://www.taxtmi.com/caselaws?id=352472 The ITAT dismissed the appeal, upholding the decisions of the lower authorities. It concluded that the rural land sold by the assessee fell within the specified distance from the municipal limit, making it liable for long-term capital gains tax. The ITAT found no merit in the appeal and affirmed the order of the CIT(A), clarifying the interpretation of relevant provisions of the Income Tax Act on the classification of agricultural land for capital gains tax purposes. en-us Fri, 10 Nov 2017 00:00:00 +0530 Fri, 15 Dec 2017 08:38:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352472 The ITAT dismissed the appeal, upholding the decisions of the lower authorities. It concluded that the rural land sold by the assessee fell within the specified distance from the municipal limit, making it liable for long-term capital gains tax. The ITAT found no merit in the appeal and affirmed the order of the CIT(A), clarifying the interpretation of relevant provisions of the Income Tax Act on the classification of agricultural land for capital gains tax purposes. Case-Laws Income Tax Fri, 10 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352472