https://www.taxtmi.com/caselaws?id=370994 The court upheld the decision of the Income Tax Appellate Tribunal, determining the sale of agricultural land as subject to long-term capital gains tax due to its proximity to municipal limits. The appellant's arguments regarding the land's rural nature and exemption under Section 54F were dismissed, as the court found no legal errors in the lower authorities' assessments. The appellant failed to demonstrate any illegality in the authorities' consideration of the land's location and the Central Government's notification. Ultimately, the court concluded that the appeal lacked merit and was dismissed. en-us Fri, 02 Nov 2018 00:00:00 +0530 Tue, 27 Nov 2018 06:40:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370994 The court upheld the decision of the Income Tax Appellate Tribunal, determining the sale of agricultural land as subject to long-term capital gains tax due to its proximity to municipal limits. The appellant's arguments regarding the land's rural nature and exemption under Section 54F were dismissed, as the court found no legal errors in the lower authorities' assessments. The appellant failed to demonstrate any illegality in the authorities' consideration of the land's location and the Central Government's notification. Ultimately, the court concluded that the appeal lacked merit and was dismissed. Case-Laws Income Tax Fri, 02 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370994