https://www.taxtmi.com/caselaws?id=363441 The ITAT upheld the CIT(A) decision that the land qualified as agricultural based on supporting documentation, including revenue records and official certificates. Despite being part of an industrial area, the land's historical and current agricultural use prevailed, and its classification remained unchanged. The ITAT ruled that the potential non-agricultural use did not alter its character, concluding that no capital gains tax was applicable as the land was correctly considered agricultural at the time of sale. en-us Tue, 10 Jul 2018 00:00:00 +0530 Thu, 12 Jul 2018 08:34:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=363441 The ITAT upheld the CIT(A) decision that the land qualified as agricultural based on supporting documentation, including revenue records and official certificates. Despite being part of an industrial area, the land's historical and current agricultural use prevailed, and its classification remained unchanged. The ITAT ruled that the potential non-agricultural use did not alter its character, concluding that no capital gains tax was applicable as the land was correctly considered agricultural at the time of sale. Case-Laws Income Tax Tue, 10 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=363441